Thursday, July 29, 2010

A surge of properties coming on market then

Second home owners to lose tax breaks

George Osborne reversed the measure in the June Budget saying he wanted to help small businesses operating in the tourism industry. However, the Treasury has now said it intends to make it much tougher for home owners to qualify for the breaks. It means more than a quarter of the 65,000 home owners offering holiday lets in Britain will no longer be eligible for the tax benefits from 2011-2012, according to a consultation document published by the Treasury.

Posted by mark @ 03:31 PM (1219 views)
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2 thoughts on “A surge of properties coming on market then

  • Looks like the old rules were ridiculously lax and led to mass buying of holiday homes as a dual investment and tax break.
    Utterly sickmaking, no wonder we’ve had the mother of all property bubbles!
    Since returning from abroad I have been living in the East Neuk of Fife, which has seen huge HPI, and it’s good to see that there’s a whole lot of for sale signs going up now.

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  • It shouldn’t concern anyone who runs a successful holiday let, and they will enjoy CGT at 10% when “disposing”. See, work
    hard get rewarded, as opposed to just expecting a pile of bricks to do the hard work. I’m in danger of turning Tory.

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