Is now the time to pull out of the UK buy to let market?
Despite the governments climbdown on capital gains tax(GCT) reform last week and a quasi introduction of a flat rate 18% it would seem that now is the time to capitalise on UK gains to invest in property markets around the world.
Basic rate tax payers with non-business assets, which include second homes, buy to lets and shares, will see that CGT RATE RISE from 12% to 18% from April 2008.
Thousands of people who have held off from making decisions while waiting for the chancellor’s reforms are now expected to make plans to sell an potentially re invest overseas.
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