Gradual erosion of allowances against CGT
General Discussion

20 Thanks
157 Posts
4 months ago

The allowances against CGT liability are virtually gone. Down to an allowance of jut £3000 from April. Over the years I've seen taper relief disappear, allowances diminish and tax reliefs being eroded. Looked at from the HM perspective of reducing potential 'loss' of revenue by reducing allowances it would seem an easy calculation to make. They are getting more tax paid as the sellers are paying more in tax. But I believe it will not work out that way because it is going to negatively effect the amount or properties that landlords may otherwise have decided to sell, or at least defer the sale. It's not an easy calculation to make as no one knows how many houses are not being sold due to these significant cumulative 'hits' over the years. From my perspective I have held onto three properties I would rather have sold some time go. Purely because I would have to now pay so much in CGT. HM are still getting tax from me from the rents I get - but they are not getting their grubby hands on any CGT - nor for now. Other landlords opinions would be interesting - have you held on ?

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