WARNING! CGT Going UP? – Property Investors Need To Act Now

WARNING! CGT Going UP? – Property Investors Need To Act Now

18:30 PM, 17th July 2020, About A year ago 2

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The Chancellor of the Exchequer, Rishi Sunak has announced a review of Capital Gains Tax.

In this video I discuss with Alex Caravello, Property118 Tax Consultant and Mark Smith, Cotswold Barristers, what implications this will have on property investors and landlords and what action landlords can take now before any changes take effect.


Landlord Tax Planning Consultancy is the core business activity of Property118 Limited (in association with Cotswold Barristers).

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Comments

by david porter

21:08 PM, 17th July 2020, About A year ago

Capital Gains Tax is a voluntary tax. If you do not want to pay please do not sell and create a taxable event.
Gordon Brown reduced it to 10% and collected an enormous amount of money. Cameron then increased to 29% and collected very much less.
As a result of the National Emergency the Government needs to raise a lot of money.
So,
Previous experience would tell you.................?
Answers on a postcard to 11 Downing Street.

by Steven

9:32 AM, 22nd July 2020, About A year ago

I agree, and I suspect the same may be true of Stamp Duty. Reduce, not increase, CGT and Stamp Duty and you may collect more of both. Moreover you will certainly collect more in VAT by freeing up the property market - house moving is well known to be a driver of economic activity as buyers eye up renovations, improvements, new furniture, new this, new that for their new home and new start. But our politicians and those who advise them will see differently no doubt and ignore the bleedin' obvious...


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