Jun 10
24
The true cost of the Budget for property investors
by Simon Zutshi from Property Investor Network
Given the huge Budget deficit that the country is in, I don’t think the new budget is all that Bad! It could be a lot worse.
Yes it is a shame that VAT is going up to 20% which is very high but will that extra 2.5% have a real impact n your purchases? Probably not! Capital Gains Tax has gone up to 28% for higher tax payers but remember you only pay that when you sell your property. If you don’t sell you don’t pay it so that will not affect many long term buy and hold property investors!
But there was one change in the Budget which could make a massive different to all the switched on Property investors
Not many property investors know this but there is a way to massively reduce your personal income tax liability, thanks to a change in the Capital Allowance scheme a few years ago. …
To Read the whole article click HERE
