Landlords 'need to be included in CGT exemptions'
Landlords who own flats to rent in the London borough of Wandsworth may be interested to learn that one organisation has called on the government to include buy-to-let specialists in any potential capital gains tax (CGT) exemptions.
The National Landlords Association (NLA) stated that while the general election did not address the issue of housing on a large scale, it is important whichever party is in parliament encourages investment in the residential property market.
According to the body, which represents more than 19,000 members in the UK, an 18 per cent flat rate on capital gains on non-business assets is due to be swapped for income tax bands ranging from 20 to 50 per cent.
David Salusbury, chairman of the NLA, said: "When landlords let property they are running a lettings business. Today, we are calling on the government to ensure profits from this business activity are included as part of the exemptions."
Posted by Andy Britten
Published 12th May, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Brixton to benefit from £75m regeneration
An estate in Brixton is to be improved thanks to a £75 million development project.
Read Article ... Published on 16th May, 2012
Olympic concerts to be held at Hyde Park
A series of Olympic-themed concerts are to be held at Hyde Park.
Read Article ... Published on 15th May, 2012
It is important that landlords are included in any potential capital gains tax exemptions planned by the government, it has been claimed.