RICS say property tax reform could encourage landlords to sell to private tenants
A recent RICS report has indicated that the Chancellor could help private tenants to own rented homes
The report identifies and proposes solutions for the UK's most unworkable property taxes. Capital Gains Tax (CGT) is identified as being one of the least effective taxes.
Buy to let investors are liable for CGT whenever they sell their property which is often viewed as a barrier to the release of available houses. A recent study by the Residentail Landlords Association suggested 77% of private landlords will consider selling to their tenants if the tax liability was waived.
Sensible reforms of CGT could provide a 'carrot' for landlords to sell their properties and re-invest in the rental market.
Source: RICS
Nick Wadsworth
Residential Sales Valuer
Horncastle Office
Tel: 01507 522222
Email: horncastle@robert-bell.org
Twitter: @robertbellandco
