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London provides 30% of taxes of the United Kingdom

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Plans to ensure the sustainability of the London property market and all over the United Kingdom in connection with the Brexit, was the leading companies of the industry, which sent its recommendations to the government, the mayor of London and representatives of local authorities. The two largest Association Westminster Property Association and City Property Association, which unite 420 largest real estate agencies, builders, investors and consultants have published a joint Manifesto, which said that any further strengthening of the tax burden, as well as faulty planning can have a negative impact on the industry and companies in the process of adaptation to new economic conditions.

 

The Manifesto calls to make London a center of the negotiation process taking into account the interests of both London and the United Kingdom. London, as the fastest growing megacity in dire need of construction of new houses and apartments, which must be continuous.

Among the solutions that need to be taken – the issues of migration policy and issues in the financial and insurance sector.

London needs to maintain legal equivalence with the European Union in all legal matters. Exit from the EU should not mean reducing the flow of investment. In the Manifesto of the recommendation to increase the number of proposals for new facilities in the market, improve infrastructure and boost employment. Simultaneously with the flexibility of the legislation, all these factors should ensure a steady flow of investment in the sector.

It is very important to preserve London as the world’s capital investment. London provides the UK 23% of the total gross domestic product and 30% of tax revenues.

Taxation legal. individuals in the UK

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®Maxim Savitsky G. 27.01.2017

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