OPP Today features Louise Reynolds' Budget 2016 property-related comments
Buy to Let and Commercial property
Excerpt from the article:
'International property professionals have welcomed the lowering of Capital Gains Tax in today’s UK budget – even though it has a sting in the tail for landlords.
Chancellor George Osborne, says the higher rate of Capital Gains Tax (CGT), which applies to capital gains on most assets, will fall to 20%, from 28% now, with the basic rate reduced from 18% t0 10%.
However, the measure is unlikely to help landlords as capital gains on residential property and carried interest will be subject to an 8% surcharge, essentially leaving them at the original rate. Capital Gains Tax applies to all residential properties except the main home.....
Louise Reynolds, Director of the Property Venture agency says,‘Whilst Buy-to-Let has been on the ‘Naughty Step’, commercial property seems to be ‘Teacher’s Pet’. Previous controversial announcements of drastic buy-to-let taxes remained untouched, whilst George Osborne announced a reduction in Stamp Duty at the lower price bracket for commercial property transactions. This could give a boost for Purpose-Built Student Accommodation investments (PBSA) which are a commercial investment and provide a serious alternative for investors moving away from buy-to-let.”.........
Property Venture® is an award-winning, UK-based agency for property in Poland who helps people buy investment property and holiday homes in Europe, more easily and safely than they can on their own, because they offer grounded common-sense advice.
The focus is mainly greater Europe: Poland property, UK investments, Spain property, Turkey property, Cyprus property
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