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CGT ‘generous exemptions’ must include Landlords

The NLA is calling on the Government to include capital gains from the sale of residential property as part of the wide-ranging “generous exemptions” which will also include entrepreneurs and other businesses.

David Salusbury, Chairman, NLA, commenting on the expected CGT increase, said:

“When landlords let property they are running a lettings business. Today, we are calling on the Government to ensure profits from this business activity are included as part of the exemptions.

“We are concerned that a tax increase of this nature will act as a barrier to further investment in residential property just at a time when there is an urgent need for more housing.

“The NLA will be doing everything we can to ensure that landlords’ activity is considered to be business activity for the purposes of CGT. There should be further consultation with the industry before drastic changes are made. The law of unintended consequences should be considered here.”

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One thought on “CGT ‘generous exemptions’ must include Landlords

  1. Increasing the tax to 40% is insane as this could have a detrimental effect to the UK market, investors, entrepreneur etc could be scared away and its people like them is what we need at a time like this to get us out of this mess not to punish them. Maybe we should stop donating monies to richer countries than us?

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