GPEL Posted October 10, 2007 Report Share Posted October 10, 2007 I see that CGT will be simplified to 18%. Any views on how this'll affect BTL? Couldn't see if tapering is still relevant. Link to comment Share on other sites More sharing options...
plym77 Posted October 10, 2007 Report Share Posted October 10, 2007 It does affect Landlords, and I am calculating some examples as we speak so you can see who is adversly or beneficially affected - hope to post them here later today or tomorrow morning. Regards Sherena Link to comment Share on other sites More sharing options...
Mr Freefall Posted October 10, 2007 Report Share Posted October 10, 2007 hmmm... Was there any announcement on Private Residency or Letting Relief? Seemed that the statement was to ties up some loopholes in the BTL market... I tried to post some calcs from an excel workbook but failed, but basically if your Gain was under £75.5k and would be claiming Private Residency for the last 3 years and Letting relief max £40k including two lots of annual allowance for Husband and Wife you would still have zero CGT to pay. Otherwise, on a gain of 75.5K is was a couple of hunder pounds cheaper on the new system. £10.3 v's £10.2k Mr F Link to comment Share on other sites More sharing options...
plym77 Posted October 10, 2007 Report Share Posted October 10, 2007 Hi Mr F I am afraid it isn't as simple as that. There are different outcomes depending on length of ownership, a persons 'other income etc', plus adverse effects on qualifying commercial property (if anyone here has these). I do not believe there was anything with regard to PPR or Lettings Relief in the PBR but I will have a search. I need to top and tail my examples and will post them here to show you in different circumstances (ie. length of ownership, type of property, and marginal rates of tax etc) and who is benefically and adversely affected. I would however point out that I have not built in PPR/Lettings Relief to my computations as each situation could be different taking this into account - and since it appears to remain unchanged between the 'old' and 'new' regimes (I will of course double check!), I have left this out, focusing purely on BTL/Investment properties. I will post my findings tomorrow Regards Sherena Link to comment Share on other sites More sharing options...
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