Capital Gains Tax changes coming into force

From the start of the new tax year (April 6th) Landlords will only be able to claim lettings relief if they share the property with their Tenant. Currently if you sell a residential property which used to be your private residence (and have subsequently rented it out), it is possible to deduct lettings relief up to a value of £40,000 from any capital gain.

Another small but important change is that capital gains tax (CGT) generated from the sale of a rental property will now need to be paid within 30 days of completion rather than in your next annual tax return. It is vital that Landlords and investors are aware of this adjustment to ensure that they do not fall foul of the law.

Latest Posts

Tips To Save You Cash When Saving For A Home

If you’re saving up for a home move and you’re starting to see mentions of the C-word (Christmas) everywhere, it...

How To Continue To Enjoy Outdoor Dining In Autumn

Having spent three lockdowns at home, many of us embraced the great outdoors. Spending time in the garden though brings...

5 Ways To Make Your Home More Hygge This Autumn

You may well have heard the term ‘hygge‘. If you haven’t it is a Danish concept which cannot be translated...