More taxation for landlords and investors
More potential tax for Buy-to-let landlords. Private landlords could soon be paying more capital gains tax following new proposals put forward by the Institute for Public Policy Research (IPPR). Why do other investments not attract the same level of taxation as buy to let properties? Is it not time that the governments of this land realise it is time for a culture shift?
If the proposed capital gain tax increases go through, do those in power not realise that the tenant ultimately suffers as landlords will increase rents to maintain their yields. It was reported that last month rents in the UK hit an all-time high of £970 a month. What do people expect? Landlords are not in the buy to let game for charitable reasons.
We have already seen numerous tax changes over the last two years, the government cannot expect to be able to keep hiking on the taxes and expect no repercussions.
Or is this the plan all along? Get landlords to sell up then have to pay Capital Gains Tax, no matter that there will be increased homelessness.
How does this apply to companies that own buy to let rather than individuals?
It seems that the government has a hole in its budget, and this could generate an additional £120bn over five years.
The IPPR claims that this proposal is fairer than the current system?
Would this new change in tax be the last straw for you as a landlord?