Will landlords sell up after tax changes2

Will landlords sell up after tax changes?

There is a buy-to-let exodus on the horizon as landlords are currently selling up to avoid additional levies on their profits. Landlords will be faced with a capital gains tax which will see the average property owner lose around £2,600 when selling a property that has risen in value. It comes as the annual exemption figure for capital gains tax will be reduced from £12,300 to £6,000 next year. By 2024 this will drop to £3,000. Landlords will face a tax rate of 18 per cent and that rises to 28 per cent for those higher-rate taxpayers. Capital gains tax is charged on the profit the landlord makes when they come to sell a buy-to-let. Continue Reading