Tax breaks should be offered to landlords who sell their rental properties to first-time buyers or key workers, according to Landlord Mortgages.
The mortgage broker says these landlords could be offered either a reduction in the overall amount of tax paid, or an increase in the period in which the tax can be paid. The suggestion follows data analysis by the firm which showed that UK landlords are facing a capital gains tax (CGT) bill of over £4.1bn – an average of £48,600 each. Lee Grandin, managing director of Landlord Mortgages, says “huge” house price increases are responsible for the problem, but offers a possible solution. “House price increases have been a boon for many ordinary homeowners but they also pose a problem for b...
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