The taxman cometh…
Interesting thoughts voiced here in Property Investor News, (one of our regular reads):
“Rumour has it that the Spring Budget will see a rise in taxes across the board to fund the government’s Covid-19 support, with many expecting to see increases in Capital Gains Tax (CGT).
“If rumours are to be believed, the rates could increase in line with income tax. Landlords whose profits have been squeezed in recent years will undoubtedly be unimpressed if a large chunk of the disposal proceeds are now to be relinquished.”
However as the author, an accountant, explains now might be a good moment to consider folding any rental properties you may own personally into a corporate account, and create a company. She explains the tax benefits in quite a lot more more detail than we have space for here.
It does seem likely that personal taxes are likely to rise. And the Spring Budget is on 3 March, so you’ve got, well, not long frankly.
And finally, we just liked this headline in Property Investor News, “A ‘beret’ good time – prime French market tempts buyers from London .”
Amusing, and succinct.
If you would like to discuss something related to a valuation here in Wimbledon please contact Zah via email at zah@scrivenertibbatts.co.uk or call 020 8947 7040.
