Capital Gains Tax Changes in the Next Budget
Some investors will benefit from one change to the capital gains tax (CGT) which has already been confirmed for the next budget. This measure concerns the link between time to the level of tax paid by an investor when he sells on a property, which will not start at 40 percent for the first three years of ownership and decrease by 2 per cent every year thereafter to 24 per cent after 10 years. This will allow more property market fluidity because will help investors who have owned properties for short periods by paying less tax, and consequently not being at a disadvantage against sellers who hold properties for many years.
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[…] Capital Gains Tax Changes in the Next Budget Some investors will benefit from one change to the capital gains tax (CGT) which has already been confirmed for the next budget. This measure concerns the link between time to the level of tax paid by an investor when he sells on a property, which will not start at 40 percent for the first three years of ownership and decrease by 2 per cent every year thereafter to 24 per cent after 10 years. This will allow more property market fluidity because will help investors who have owned properties for […]