0:05 AM, 5th May 2023, About 10 months ago 12
Hello, with a glass of red in one hand I had a thought . . . I am considering selling off a BTL house valued at £1.4m which makes less than 3% return in rent – but I hate the idea of giving this government the £350,000 CGT it will force me to hand over if I wish to exit this screwed BTL business.
I am sure there are many more LLs who face selling up due to the government tax/regulations that strangle a good landlord providing a lovely large house in London without profit as the only motivator.
Why don’t we club together, hold back our sell-offs collectively (thus millions in CGT ), and sell/pay ONLY if they reverse section 24?
Governments have accepted a lot less to implement far more, plus the Press may then have some understanding about the amounts of tax we pay towards schools, nurses etc.
Dick Turpin 🙂
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