Land­lord con­cern at CGT in­creases

Yorkshire Post - Property - - STRUTT & PARKER -

Land­lord As­sist, the na­tion­wide ten­ant evic­tion and rent re­cov­ery firm, is concerned that ex­pected in­creases in cap­i­tal gains tax from 18 per cent to a top rate of 40 per cent for high earn­ers could have a dam­ag­ing ef­fect on the buy-to-let sec­tor. Ex­act de­tails are ex­pected to be an­nounced in the forth­com­ing emer­gency Bud­get, al­though it has been sug­gested that tax rates could mir­ror the rates of in­come tax – ie, 20 per cent, 40 per cent or 50 per cent. Most prop­er­ties bought by pri­vate in­vestors, such as buy-to-lets and hol­i­day homes, are re­garded as non-busi­ness as­sets and so would not be ex­empted.

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