Landlords call on Government to abandon CGT plans

54% of landlords said that they did feel more confident in the market. Some of their comments included:

– Rents and demand are rising as are capital values, interest rates are still low and don’t look to be increasing for a while yet: what’s not to like?

– For the last year there has been a steady increase in property prices and rental levels.

– Easier to let and good rates compared to last year.

Many of those who said they were less confident mentioned the proposed changes to CGT. Their comments included:

– If the 40% capital gains tax comes in, the BTL market is even less attractive than its current state.
– I’m appalled at the government’s proposed CGT increases.
– Capital gains tax without taper relief, not good!
– The sooner this new government get rid of all the red tape the last government put in place the better.

James Davis, CEO and a landlord himself said:

"There’s a clear divide in landlord opinion at the moment. Those who are more confident are looking at the strength of the buy-to-let market, rent levels and tenant demand. Those who are less confident are looking at the legislative and fiscal spheres. It seems clear that the market is healthy, and that the problems that landlords have are ones imposed on them from outside."

"The new government now has the opportunity to help landlords play their role in the UK housing market effectively and efficiently – or it can leave it to stagnate under over-regulation and increased taxation. Private rentals will be crucial to the UK housing market in the coming months, as job cuts come into effect and local councils grow even less able to cope with the demands put on social housing. Landlords can help bridge this gap – but only if they are given adequate support by those in power."

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