Increase In CGT Unlikely To Have Significant Impact On Property Market
The recent emergency budget announcement outlined that the rise in Capital Gains Tax (CGT) of 10% was not as high as had been widely predicted.
As a result, William Jackson, Partner of the firm, specialising in the sale of rural estates believes that the increase is unlikely to have a significant impact on the property market.
William said: “As a firm which specialises in rural estates, as well as commercial and residential property lettings, we are pleased to see the rise in capital gains is not as high as expected. The availability of estates to buy is at a premium and CGT rise of 10% is unlikely to deter buyers. Equally, owners of buy-to-let properties or second homes who are planning to sell are unlikely to change their minds as a result of this tax rise.” If you would like to discuss any aspect of buying, selling or letting a property please get in touch with our residential teams located throughout Scotland.