Budget spotlight: Capital Gains and income tax
With Rachel Reeves’ first Budget Statement only two months away, speculation is mounting about what she will announce.
The Government has been frank in preparing the public for an uncomfortable experience, with the PM just this week warning of 'big asks' to be included in a 'painful' October Budget.
But what does this mean for landlords? In the first in a series of articles, NRLA Policy Director Chris Norris will model the impact of a range of potential tax changes the government could introduce and look at how they could affect you and your business.
It would be easy to dismiss all talk of a £22bn black hole in the public finances as a combination of blame shifting and pitch rolling, but realistically we have to acknowledge two things:
- that the last few years has weakened the UK economy and
- that if a new government is ever likely to be bold with fiscal policy, it is shortly after a major election win.
So, what does this mean for landlords and the PRS?
In the nine weeks between now and Budget Day we are going to look at a series of ‘what if’ questions, to explore what the impact of various tax changes could be on our sector.
Starting with …. What if the Chancellor aligned CGT rates with Income Tax bands?
