John Stuart

Registered with Property118.com
Thursday 25th August 2016


Latest Comments

Total Number of Property118 Comments: 2

John Stuart

9:41 AM, 26th August 2016
About 3 years ago

Capital gains on BTL to be taxed as income

https://hansard.parliament.uk/commons/2016-07-07/debates/48fe1cae-cc46-4b39-bacc-d2362f07b817/FinanceBill(SixthSitting) Go to 4.15pm

The intention stated there seems clear which is that developers would be taxed on the profit on a transaction as income rather than a capital gain.

However, to contradict that, the bill is written in such a way that any property investor would pass the test - i.e. they bought a property in the expectation that it would rise in value.

Assuming it passes in to law unchanged, then the question is how HMRC apply it, hence the comments of the Law Society.... Read More

John Stuart

22:34 PM, 25th August 2016
About 3 years ago

Capital gains on BTL to be taxed as income

In committee on 7th July, David Gauke stated "the measure is targeted at those who have a property building trade; it does not impact the tax profile for investors in UK property".
However, the clause seems to be written in such a way that it would describe typical landlords.
Is it badly written and we don't need to worry so much? Or is it a cynical move to alter tax principles (again) specifically to hammer landlords.... Read More