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In her first Budget, the Chancellor announced that capital gains tax on property sales would remain unchanged at 18 and 24 per cent for basic and higher-rate taxpayers respectively, while the stamp duty surcharge on the purchase of rental properties and second homes will rise from 3 to 5 per cent today.
Reflecting on the Budget, safeagent’s chief executive, Isobel Thomson, said:
“It is disappointing that there was no reference in the Budget to the crucial role that landlords play in delivering much-needed housing.
“With no specific incentives for them to continue to remain in the market at a time when the lack of detail surrounding regulatory reforms is already causing uncertainty, this is disappointing and shortsighted.”
