Britain's biggest landlord trade body is urging the Government to waive capital gains tax where properties are sold to first-time buyers
Britain's biggest representative body for buy-to-let investors has proposed that investors should be given tax relief on the gains they make when selling their rental properties - in return for selling the properties to first-time buyers.
The proposal, made to chime with the Government's initiatives to increase home ownership, is likely to prove highly controversial.
That's because capital gains tax is one of the biggest tax hits on the buy-to-let sector, reaping billions for the Exchequer.
Because the buy-to-let industry has grown so fast, much of the capital gains tax laibility - running into tens of billions of pounds - is as yet uncrystallised.
The Residential Landlords Association, which represents around 40,000 private landlords, has suggested the Government could "encourage" landlords to sell their properties to tenants and first-timer buyers via tax incentives.
A survey of more than 1,500 investors found two in three would be "more likely to sell" if their capital gains tax liability was reduced.
If the liability was removed altogether, 77pc would consider selling.
Source: Buy-to-let investors: 'Let us off capital gains tax and we'll sell to first-time buyers' - Telegraph
AtW's comment -
Britain's biggest representative body for buy-to-let investors has proposed that investors should be given tax relief on the gains they make when selling their rental properties - in return for selling the properties to first-time buyers.
The proposal, made to chime with the Government's initiatives to increase home ownership, is likely to prove highly controversial.
That's because capital gains tax is one of the biggest tax hits on the buy-to-let sector, reaping billions for the Exchequer.
Because the buy-to-let industry has grown so fast, much of the capital gains tax laibility - running into tens of billions of pounds - is as yet uncrystallised.
The Residential Landlords Association, which represents around 40,000 private landlords, has suggested the Government could "encourage" landlords to sell their properties to tenants and first-timer buyers via tax incentives.
A survey of more than 1,500 investors found two in three would be "more likely to sell" if their capital gains tax liability was reduced.
If the liability was removed altogether, 77pc would consider selling.
Source: Buy-to-let investors: 'Let us off capital gains tax and we'll sell to first-time buyers' - Telegraph
AtW's comment -
Comment