Landlords to benefit from changes to Capital Gains Tax
Published: 13-Mar-2008
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Budget 2008, announced by the chancellor Alistair Darling yesterday (Wednesday, March 12th), represents good news for buy-to-let investors in the UK.
That is according to David Salusbury, chairman of the NLA, who maintained that the changes to Capital Gains Tax (CGT) will benefit landlords looking to sell some of their properties.
However, he also noted that landlords had been left out of the entrepreneurs' relief, which could have brought further benefits to those wishing to sell property.
Mr Salusbury commented: "We are pleased to see that both stability and strength are the cornerstones of this year's Budget.
"Landlords who have acquired property in recent years who are looking to sell will be pleased to hear that the planned changes to the CGT regime go ahead next month. It effectively means landlords who want to release some equity from their portfolios will only pay aflat rate of 18 per cent on their capital gain.
"It's a pity that the chancellor didn't take this opportunity to include landlords in the entrepreneurs' relief which would have reduced the CGT rate to ten per cent for the first £1 million of gains."
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