Jeremy Hunt announced that the amount you can make from the sale of certain assets before paying tax will fall from £12,300 to £6,000 in April and then to £3,000 in April 2024 in the Autumn statement on Thursday.
Tom Cranenburgh from GetAnOffer Estate Agency told City A.M. this morning that many landlords are now opting to exit the market.
He said: “The changes to Capital Gains Allowance couldn’t really have come at a worse time for landlords. Right now many are already facing a reduction in property values, rafts of new regulation and the prospect of many of their tenants struggling to pay their rent due to the cost of living crisis.
Read more at City A.M.
