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  • Buy-to-Let

    HMRC enjoy "buy to let sell off" CGT tax haul



    A record £8.2 billion was paid in Capital Gains Tax in 2017/18 - over £1 billion more than the year before.

    The figures comes from private wealth law firm Boodle Hatfield which has analysed HM Treasury’s CGT figures for 2017-18, the latest available data.

    The yield means that the government’s CGT income has risen by 130% in just five years.

    Boodle Hatfield says the overall rise has been driven by increasing asset prices, including both equities and property.

    The FTSE 100 rose a cumulative 24 per cent from January 2016 to December 2017 while the average UK house price increased 7.3 per cent from £197,044 to £211,433 over the same period according to the Nationwide.

    Recent restrictions on tax relief for buy to let investors, introduced in April 2017, may also have encouraged more owners of investment properties to sell and triggered a rise in CGT yield.

    Geoffrey Todd, Partner at Boodle Hatfield, says:

    “HMRC seems to have reaped the benefit of the Treasury making buy-to-let a much less attractive investment – twice over. As well as reducing the amount of tax relief the government gives to property investors, the changes to buy to let taxation seem to have pushed some landlords into selling properties and driven up CGT yields too.”

    Full/source article 

    Have you sold any BTL properties in the past tax year, and, if so, why did you sell up?

    SEE ALSO  -         Section 24 - I am in total shock!

    UP NEXT -             BTL property purchases in sharp decline

    DON'T MISS -        Rents rise as Landlords exit the sector

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    It's not clear whether this is a very poor analysis by Boodle Hatfield or biased reporting by Estate Agent Today?

    What is the increase split between equities and property?

    What is the evidence that property sales are linked to S24?

    Is S24 a greater or lesser factor than say, a stagnating market or Brexit uncertainty or some other factor?

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    A good teacher must know the rules; a good pupil, the exceptions.

    Martin H. Fischer

    ********s either way, Gary. I just can’t get past that it wasn’t retrospective.
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    I wonder what do they mean by average is it mean or median . If it’s a raw mean average the figures inin London would distort the National average . I would suspect they have a sophisticated formula to exclude to houses at the very top and the very bottom of the sales prices from the overall average
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    Felt, Vanessa - 26 times!

    Can you explain please Vanessa what you put in the video about a "Golden Hello" from councils giving out 2.5k to hand over your property? I am in Wales. Thanks.

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