Landlords hit out at proposed Capital Gains hike
Private landlords are calling on the government to scrap any plans to raise Capital Gains tax.
Letting agent Upad’s rental confidence survey revealed worries over the proposed increase despite a majority feeling confident in the market.
One landlord declared himself “appalled” at the proposals while another claimed the buy to let market would become much less attractive.
Of 257 UK landlords surveyed 54% felt more confident in the market with many highlighting the improvement on last year.
James Davis, Upad’s CEO, says: “The new government now has the opportunity to help landlords play their role in the UK housing market effectively and efficiently – or it can leave it to stagnate under over-regulation and increased taxation.
“Private rentals will be crucial to the UK housing market in the coming months, as job cuts come into effect and local councils grow even less able to cope with the demands put on social housing. Landlords can help bridge this gap – but only if they are given adequate support by those in power.”