Capital Gains Tax to 18% ?

[combotrader]

Hello TheBramble

Jack's right, indexation is allowable as well as taper relief and I believe there's a third relief available also, which is rather complicated for which an accountant is required to sort them all out, basically if the property is owned over a long period of time the 40% CGT is almost wiped out, thats what I believe anyway after various jaunts around the net and the IR website, because I decided to keep I didnt take it any further. Nice one theblades, looks like you did ok there

Well if I keep the property come hell or high water at least when I do sell I'll be able to work out CGT liabilities myself and the number crunchers wont get a slice of the action, makes a change, for once

Now that the IR no longer recognize the money value differential between buying the asset and its sale, is long term holding of investment assets dead in the water?

Lightning

Is the treasury taking a bet that lots of buy to let investors who have got into the market over the last few years will be selling soon ? Are they trying to grab their taper relief and bash them with the flat rate ? If that is right - sell you real estate assets. The treasury just might be taking a punt on the weakening housing market.

If I hold off selling a flat I have had since 2006 till april - I gain 22%, so I`m happy.

What do the seers reckon ?

Cheers
CT

 

[Lightning McQueen]

Is the treasury taking a bet that lots of buy to let investors who have got into the market over the last few years will be selling soon ? Are they trying to grab their taper relief and bash them with the flat rate ? If that is right - sell you real estate assets. The treasury just might be taking a punt on the weakening housing market.

If I hold off selling a flat I have had since 2006 till april - I gain 22%, so I`m happy.

What do the seers reckon ?

Cheers
CT

A result! good to see another winner joining the ranks of the guys and gals trading from home

Not sure if this is fact or not but CGT on let property is avoidable by living in the property as your main residence for a few months, then selling it...loophole being closed as I type no seriously, check it out.

Lightning

 

[chump]

"What do the seers reckon ?"....I "reckon" they are about 2 moves behind me as usual..LOL

 

[beebop]

A result! good to see another winner joining the ranks of the guys and gals trading from home

Not sure if this is fact or not but CGT on let property is avoidable by living in the property as your main residence for a few months, then selling it...loophole being closed as I type no seriously, check it out.

Lightning

It works if you lived in the house before you let it (within certain time limits) but is not ok that way you have suggested though I'm pretty sure it happens and slips through.

 

[Benny Dorm]

I started a thread over on spreadbetting section suggesting that DMA brokers would poss have even more of an edge now after changes in CGT. Anyway I'd just like to reiterate that when my co-director and I sell our business (hopefully before we are regulated out of existence) it looks like we will have to pay an extra 80% in tax. Thanks, Darling!

 

[donaldduke]

Anyway I'd just like to reiterate that when my co-director and I sell our business (hopefully before we are regulated out of existence) it looks like we will have to pay an extra 80% in tax. Thanks, Darling!

Its a daft proposal ,it provides no encourgement to longterm investing over short term flipping. Its great for short term investors and traders. But for a business owner that has been paying corporation tax at 22% having to take another 18% hit at the end is painful.
Theres still a chance that he might back track on this one as its not on the statute books yet.