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.
Labour has cast doubt on the Conservatives’ proposal for a two-year temporary capital gains tax break for landlords who sell to their existing tenants
Groups representing both tenants and landlords have reacted coolly to the Conservative manifesto which was deemed short on new initiatives.
Plans to abolish the Furnished Holiday Lets (FHL) regime could be delayed by at least a year from April 2025, and might never happen, according to one tax expert.
Changes to income and Capital Gains Tax (CGT) that came in over the weekend could mean reduced investment in the PRS and insurance premiums, warns an insurance expert.
