18% capital gains tax boon for landlords
- 3rd February 2008
- Landlord Property News
The Chancellor’s draft legislation to reform Capital gains Tax will be good news for property investors.
The proposed lower rate of 18% capital gains tax could encourage investors to buy and sell properties more readily, and not be faced with a huge tax bill. The present rate of capital gains tax is 40%.
The new rate is due to be introduced on the 6th April, 2008, and could boost prices in both the buy-to-let and second home market by encouraging new investors who until now wanted to avoid CGT.
Rod Thomas from Axis Property Investment says: “The new 18% rate confirmed last week will enable landlords to sell, which in turn will help to increase the supply of property in the market. This can only be good news for first time buyers.”
The new 18% rate confirmed last week will enable landlords to sell, which in turn will help to increase the supply of property in the market.
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