Landlords concerned about Capital Gains Tax amid PM's wealth tax discussions
UKPulse News Desk
Landlords are increasingly concerned about Capital Gains Tax (CGT), despite no official government announcements or Budget proposals for an increase. This concern appears to stem from Prime Minister Andy Burnham's repeated arguments for wealth and assets to play a larger role in funding public services.
- There have been no government announcements or Budget proposals for an increase in Capital Gains Tax.
- Prime Minister Andy Burnham has repeatedly stated that wealth and assets should contribute more to public services and has not ruled out further tax reform.
- The Property118 Landlord Sentiment Survey indicates that Capital Gains Tax is a top concern driving landlords to consider leaving the Private Rented Sector.
Concerns among landlords regarding Capital Gains Tax (CGT) have reportedly increased, even though no government announcements or Budget proposals for a rise have been made. This trend is occurring amidst broader political discussions.
Prime Minister Andy Burnham has consistently argued that wealth and assets should contribute more significantly to funding public services. He has also not ruled out wider tax reform, repeatedly stating that assets are undertaxed compared to labour and refusing to rule out a wealth tax.
Economists, tax advisers, and property commentators are now debating whether CGT could become part of these discussions. The Property118 Landlord Sentiment Survey reports that CGT is a primary factor influencing landlords' decisions to exit the Private Rented Sector.