LANDLORDS EXEMPTED FROM GAPITAL GAINS CUTS

Responding to the Chancellor’s Budget announcement to exempt residential property sales from cuts to the rate of capital gains tax (CGT), Richard Lambert, Chief Executive Officer, National landlords Association (NLA), said: “The Chancellor said that this government would tax the things it wants to reduce not the things it wants to encourage. “On that basis, it’s clear he does not regard ordinary people putting their own money into providing homes as worthwhile. “The steady upward ratchet of taxation on landlords over the past year shows that George Osborne is determined to bear down on the private rented sector, but he still depends on the tax revenues he expects to pull in from them. “The NLA called for a short term easing of CGT to allow landlords to restructure their portfolios or to exit the market altogether but it appears that however much he wants us out, he can’t afford to...
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Knight Franks reaction to the Autumn Statement

  Capital Gain Tax – the current exemption from CGT for non-UK resident owners of residential properties will be removed. Liam Bailey, Head of Knight Frank Global Research, comments… Tax is not the primary driver for the majority of international buyers of residential property in London. We anticipate that the removal of the CGT exemption for non-resident purchasers will have only a marginal impact on demand and pricing. It is important to note that the change to CGT rules brings the UK in line with other key investor markets, such as New York and Paris where equivalent taxes can approach 35% - 50% depending on the owner’s residency status. As we noted in our recent report on International Buyers in London, while non-resident purchasers account for 28% of central London property purchases, their share of the wider Greater London market is far smaller at around 12% of all new-build property...
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The 2011 home insurance postcode lottery

The cost to insure your home and its contents is steadily on the rise. Since January 2010 we have seen a national average rise of just six per cent or 2.5 pence per day, however new data from price comparison site Money Supermarket has shown that in some areas prices have rose by an astonishing 46 per cent. This is the sad truth for residents of Dorking in Surrey where their home insurance premiums have now risen from an average of £119 to £174 over the last 14 months. That is an increase of 15 pence per day. Greater London seems to have been hit hardest with five areas in the top twenty. Julie Owens, head of home insurance at moneysupermarket.com said: “Unfortunately for consumers, things look set to get worse with the increase in prices unlikely to slow down in the coming years. As our research shows, some areas...
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How is the Property Investor Impacted by the new Govenerment?

So we now have a new government, a new type of government! All great, we hope, for the economy and for Britain, but how does the new agreements made between The Conservatives and The Liberal Democrats effect us, the property investor?
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