BUDGET 2008: NLA welcomes stable budget

The National Landlords Association says it is pleased that stability and strength are cornerstones of the 2008 Budget.

David Salusbury, chairman of the NLA, says: “Landlords who have acquired property in recent years who are looking to sell will be pleased to hear that the planned changes to the Capital Gains Tax regime go ahead next month.

“It effectively means landlords who want to release some equity from their portfolios will only pay a flat rate of 18% on their capital gain.”

He adds: “It’s a pity that the chancellor didn’t take this opportunity to include landlords in the entrepreneurs’ relief which would have reduced the CGT rate to 10% for the first £1m of gains.”