New Capital Gains Tax rules will hit buy-to-let investors
Buy-to-let investors, or those owners with more than one property, face an increase in capital gains tax (CGT) exposure from April 2014 as ‘relief’ is reduced from three years to just 18 months.
Generally, there is no CGT to pay on the sale of your main residence, however, if you own more than one property, the second will be liable for tax.
Those most likely to be affected by the Government’s changes will be families who let out their old home after moving, holiday home owners, or landlords who capitalised on the previous rules to reduce their tax burdens.
If you think your could be impacted by these developments, or would like to seek advice on the new CGT rules, please call Anna Spall on 020 8891 6141 or e-mail email@example.com