Rise in capital gains tax less than expected but still likely to affect UK real estate market

[Nicholas Wallwork]

A smaller than expected rise in capital gains tax announced in the UK emergency Budget yesterday will still*impact on the property market, experts claim.

Ian Potter, operations manager of the Association of Residential Lettings Agents said that although the rise*in CGT to 28% for higher rate tax payers was less than expected it will affect landlords and therefore is*likely to reduce supply in the private rented sector.

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