The Prime Minister’s comments about what constitutes “working people” has reignited landlords’ fears that they may be at risk of a tax raid.
Landlords and businesses are rushing to transfer and liquidate assets ahead of a potential Capital Gains Tax hike in next week’s budget.
The Chancellor is expected to leave the rate of capital gains tax (CGT) on the sale of second homes and buy-to-let properties untouched amid concerns that increasing it would cost money.
Rumours of hikes in capital gains tax (CGT) have landlords running for the exit
An ongoing shortage of rental properties is expected to keep pushing rents higher as more landlords look to scale back their portfolios.
A Capital Gains Tax rate change could be the final nail in the PRS coffin as investors ditch bricks and mortar, according to one big financial analyst.
Chancellor of the Exchequer Rachel Reeves has refused to rule out increasing capital gains tax for landlords selling their rental properties during interview with a US business TV channel.
If as many expect Capital Gains Tax (CGT) rates are aligned to people’s personal income tax then landlords selling properties would be on average £11,00 worse off, it has been claimed.
A further sign that landlords are selling up comes from new HMRC figures that reveal an increase in Capital Gains Tax (CGT) revenues for the Government from the sale of residential properties.
