16:25 PM, 10th February 2023, About A year ago 10
Just because I’m selling several (but not all) of my properties doesn’t mean you should.
There are several reasons you might be selling your rental properties, here’s a list of the ones I hear most often: –
There are of course many more reasons I could add to the list above, but if you ask any landlord who has finally decided to throw in the towel why they arrived at their decision they are likely to include at least two or three of the reasons I’ve stated above.
Whatever the straw that broke the camel’s back, landlords must never act only on impulse. Unfortunately, most do though, especially when their decision is to sell. The red mist has descended and they cannot think clearly, so they walk blindly into a trap that’s very dangerous to their wealth. That trap is called Capital Gains Tax and it often hits them like a speeding train when they least expect it. However, with careful thought, planning, and professional advice there are often a variety of opportunities to reduce or sometimes completely mitigate CGT. For example: –
The above list is by no means exhaustive either, so if you are planning to sell any or all of your rental properties please get in touch with us first by completing the form below.
if you wait until you’ve already exchanged contracts or completed the sale it’s too late.
I have no doubt the UK will always have a Private Rented Sector and the property market will continue to be a safe haven for investment growth, so it is absolutely not true that all landlords will sell up regardless of what the media might tell us. In fact, there are newcomers to the market every day and our Landlord Tax Consultants are always pleased to help them create the most efficient ownership structures for their investments. Either way, whether you are buying or selling, we are here to help.
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