[The CGT changes] will be welcome news for landlords, but could have the adverse effect of encouraging those on the fence to sell-up
Oli Sherlock, managing director of insurance at Goodlord: “As predicted, this Budget didn’t deliver much in the way of housing reform. The most surprising announcement, and one that wasn’t leaked beforehand, is that the higher rate of property CGT will reduce from 28% to 24%.
Section: Opinion
Oli Sherlock, managing director of insurance at Goodlord: “As predicted, this Budget didn’t deliver much in the way of housing reform. The most surprising announcement, and one that wasn’t leaked beforehand, is that the higher rate of property CGT will reduce from 28% to 24%.
"This will be welcome news for landlords, but could have the adverse effect of encouraging those on the fence to sell-up.
“Alongside that announcement, the chancellor confirmed the rationalisation of tax rules by abolishing the furnished holiday lettings tax regime. This is a sensible loophole to close and may help level up the BTL sector and, hopefully, unlock more full time tenancy stock in tourist hubs, major cities, and coastal communities.
"For more meaningful changes, the sector will have to continue waiting for the Renters Reform Bill to finally become law.”