11:21 AM, 29th November 2021, About A year ago 39
It would seem many landlords are selling up, ‘but’ is this where capital gains tax comes in?
As an example:- I have read if a property rises in value to leave £300,000 after taking away purchase price exp’s etc. After the measly £13000, allowance taking into account the capital gains tax thresholds with rates of 20% and 28% respectively the capital gains tax bill would be around £80,000!
Have I got this right?
It would seem the rental income over the years mostly goes to the government by another name!
I believe corporation tax is slightly lower?