Welcome to the Spring 2025 Edition of Our Property And Construction Newsletter
A lot has happened since our last newsletter, most notably the Autumn Budget, the aftershocks of which are still being felt across the nation with businesses and business owners, once again feeling hard done by, especially with the changes to thresholds and rates of Employer’s National Insurance.
I ended 2024 with a review of the year, covering some of budget announcements and I start this newsletter with a bit of a recap and a view as to what 2025 has in store and the level of confidence in the sector following the quarterly review by the ICAEW. The issue of self-employed versus employed has long been an issue in the industry and one that HMRC are keen to keep under review. It is often blurred as to where the lines are drawn in distinguishing between the two and Joy Shaw, one of our Tax Advisers, looks at what you need to consider when self-employed. The standout announcement in the Budget for me was the pledge to deliver 1.5m new homes across the term of parliament. A feat which feels a little pie in the sky, particularly with the increasing shortage of skilled labour in the industry. But our friends at West Suffolk College have kindly shared with us an insight into the great work they’re doing to help shape the next generation as they embark on a long and successful career in the industry.
For those of you addicted to looking at houses on Rightmove, considering your next home or dreaming of a mansion, you’ll have likely noticed that homes for sale are sticking around for longer, and often dropping in price as homeowners are keen to secure a sale. With many homeowners deciding now is not the time to sell, they’re focusing their energy and available funds into renovating or reinventing their existing homes. Paula Mason our resident VAT expert covers how engaging one contractor to manage the complete project as opposed to managing it yourself can potentially have significant implications for VAT. Finally, John Birchall of Fenn Wright gives us his insights as to what’s happening locally in the property market and his view on the outlook for the market into 2025. We hope that you enjoy this edition of the Property and Construction newsletter, and if you want to discuss any of the points raised or alternatively if you’d like to see any specific topic covered in future issues, please get in touch with me or your usual Scrutton Bland contact.
Ben Cussons Business Advisory Partner ben.cussons@scruttonbland.co.uk 0330 058 6559
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