'[The CGT measures] will hopefully increase fluidity within the property market'
Richard Rowntree, managing director for mortgages at Paragon Bank: “We welcome the reduction of the higher rate of capital gains tax paid on residential property from 28% to 24%. This measure is intended to help to stimulate transactions while not negatively impacting net tax revenue."
Section: Opinion
Richard Rowntree, managing director for mortgages at Paragon Bank: “We welcome the reduction of the higher rate of capital gains tax paid on residential property from 28% to 24%. This measure is intended to help to stimulate transactions while not negatively impacting net tax revenue.
"The move will hopefully increase fluidity within the property market, spanning both the owner-occupier and PRS, and mean more people will be incentivised to buy and sell properties in a way that best meets their needs and those of society more broadly.”