Sunday, May 16, 2010
Just in case you were thinking of buying a house any time soon
The Telegraph: Tax rises could prompt 'fire sale' of second homes and shares
A 'fire sale' of second-homes, shares and fine art is expected as investors try to beat widely-expected leaps in capital gains tax (CGT) and VAT.
Property owners and shareholders are seeking to sell assets to beat the anticipated rises, which are likely to be announced in Chancellor George Osborne's emergency budget next month and could be implemented immediately.
Buy-to-let landlords would be among those hardest hit by the increases, which could lead to a flood of extra property on the market........
And so it begins...........
Posted by titaniccaptain @ 03:09 PM (736 views) Add Comment
3 Comments
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1. Voice Of Reason said...
But doesn't that necessasitate having a gain to realise? Presumably most recent BTL "investors" will consider the increase in CGT an irrelevence.
2. clockslinger said...
Don't worry,Spotty Osbourne will sort it by letting them put it in a SIPP. Dave didn't get this far to pi22 off his rich mates and he owes plenty businessmen and media barons, er, sorry, the "leaders of the country*" (*shopkeeper Phillip Green) for their open often ill informed opining at every availible opportunity during the election campain. Perhaps undertaking never to shop in M&S or Tesco again (not difficult if you have any taste in food or clothes) would be one of a range of responses one may choose to deploy against our "leaders" if you don't like what the Tories do!
3. honest valuer said...
I'm still waiting for the fire sale of the Wilson's portfolio.
Surely with all the MEWing they did CGT going from 18 to 40% will put them out of pocket on every house.