Capital Gains Tax (CGT) rises from 18% to 28% at midnight tonight for higher rate tax payers. This was probably the most controversial of the budget announcements, although not as dramatic as some forecasted. Still - shareholders, entrepreneurs, buy-to-let investors, holders of share options and many others can both win or lose out under the new rules announced in the Budget.
However, it is thought that serious property investors will not be deterred from investing in buy to let properties by this tax rise. As the rise was almost immediate, investors would not have had time to realise any profits, even though there has been speculation that Capital Gains Tax (CGT) was to rise significantly in the emergency budget. It is thought that landlords will now not be tempted to flood the market with their investment properties, as some commentators had feared.
Buy-to-let property in Cardiff remains a good medium to long term investment as they typically generate a good income with competitive returns.
If you are thinking of selling or buying in Cardiff then please contact our sales team on 02920 454 555 or drop into any of our branches.