Budget 2021: Sunak faces revolt over planned capital gains tax raid
Landlords could be hit particularly hard by the double whammy of higher taxes.
The proposed capital gains hike would cost the average landlord an extra £6,800 in tax when selling, according to calculations by Hamptons. Tax bills for London landlords, who have typically enjoy the biggest gains, would rise by almost £27,000 on average.
Higher-rate taxpayers would be hit by a 40pc levy on capital gains rather than 28pc. The analysis assumes landlords have not already used up their £12,300 annual tax-free allowance.
Buy-to-let owners who have moved their property into a company structure would suffer a 25pc rise in their corporation tax bill if the increase to this levy is implemented, Hamptons added.
The tax bill for the average limited company landlord with one buy-to-let worth…