Budget 2021: Sunak faces revolt over planned capital gains tax raid

Budget 2021: Sunak faces revolt over planned capital gains tax raid
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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…



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