UK Landlord Forum / Life

I've mentioned this before, but here's the official release...

Financial website, This is Money, is alerting buy-to-let landlords to changes in capital gains tax (CGT) being introduced from 6th April 2008.

The Government plans to simplify the CGT system by introducing a single flat rate of 18%.

This will see the end of the taper relief system that reduces the rate of tax depending on how long an asset had been held.

Whilst it will benefit landlords making early disposals, it could have the effect of increasing the minimum rate on capital gain for those selling a property held for longer than ten years, from 10%, to 18%.

Full article here

IR35 all over again ... a tax law to "close loopholes", but only for the people who are successfully making money and aren't friends with the Labour party elite.


V

Yeah, but as it says, it works out cheaper for anyone looking to sell up quickly.

The tax system just continues to get more complicated NOT simpler - they whole thought behind the CGT shake-up

cheers

simhar

Web: Properite Landlord Software - http://www.properite.co.uk