house price recovery will end, estate agents say

twadge_face

Cripes, even estate agents are getting in with the "bad news"!!

lettingzone.com_(The_UK's_premier_Landlord_Letting_Portal) wrote:

The recent recovery in house prices could be reversed if rates of capital gains tax are increased, leading members of the Royal Institution of Chartered Surveyors have warned.

Some owners of second homes and buy-to-let investors could sell, while the proposed changes might deter many potential purchasers from investing in property, the estate agents have warned.

http://www.lettingzone.com/landlord-letting-news/1402/cgt-house-price-recovery-will-end-estate-agents-say

chucky

!!!!!!_face wrote: »

Cripes, even estate agents are getting in with the "bad news"!!

wow - you're on overdrive with the number of threads you've started today Mr Face

do you think that CGT will be raised to 40%?

Really2

I did not know that RICS were a a firm of estate agents.;)

twadge_face

Really2 wrote: »

I did not know that RICS were a a firm of estate agents.;)

Yeah, I was confused by the headline too. Some news providers, huh?

carolt

Interesting source, OP.

twadge_face

chucky wrote: »

wow - you're on overdrive with the number of threads you've started today Mr Face

do you think that CGT will be raised to 40%?

Yeah, well, I just post when the mood takes me and/or when I feel I have something worth contributing that makes a difference. Pretty transient.

Will CGT be raised to 40%? I reckon maybe not all the way, actually, but I have a definite feeling that there will be a deferred implementation date so as to enable those who have continued to hold assets on the basis of the lower rate to get rid.

It's all obviously all speculation at this point. But not long to wait now (Tues 22nd is the Emergency Budget, innit?).

What do you think?

twadge_face

carolt wrote: »

Interesting source, OP.

Well, I thought it was a crummy source.

chucky

!!!!!!_face wrote: »

Yeah, well, I just post when the mood takes me and/or when I feel I have something worth contributing that makes a difference. Pretty transient.

Will CGT be raised to 40%? I reckon maybe not all the way, actually, but I have a definite feeling that there will be a deferred implementation date so as to enable those who have continued to hold assets on the basis of the lower rate to get rid.

It's all obviously all speculation at this point. But not long to wait now (Tues 22nd is the Emergency Budget, innit?).

What do you think?

nahh - doubt it.

i reckon 22%.

twadge_face

chucky wrote: »

nahh - doubt it.

i reckon 22%.

22% with immediate implementation?

Bit feeble (not you, but the Government if it went with that - can't imagine the markets will be impressed).

I was thinking 35% with an implementation at the start of the next tax year, i.e. April 2011.

Shall I do a fun poll as another thread? Is that possible on this forum?

chucky

!!!!!!_face wrote: »

22% with immediate implementation?

Bit feeble (not you, but the Government if it went with that - can't imagine the markets will be impressed).

I was thinking 35% with an implementation at the start of the next tax year, i.e. April 2011.

Shall I do a fun poll as another thread? Is that possible on this forum?

yeah a fun poll will be soooooooo much fun.

35% is unlikely comparing it to other countries.

twadge_face

chucky wrote: »

yeah a fun poll will be soooooooo much fun.

35% is unlikely comparing it to other countries.

It's all fun

http://en.wikipedia.org/wiki/Capital_gains_tax is useful in understanding your comment above.

So are you suggesting the 40% flat rate as suggested all over the place in the press just to make it appear like the LibTories aren't half as bad when it is then put to just 22%?

Might they not just bring back in line with the historical system?

Wikipedia wrote:

Individuals paid capital gains tax at their highest marginal rate of income tax (0%, 10%, 20% or 40% in the tax year 2007/8) but from 6 April 1998 were able to claim a taper relief which reduces the amount of a gain that is subject to capital gains tax (reducing the effective rate of tax), depending on whether the asset is a "business asset" or a "non-business asset" and the length of the period of ownership. Taper relief provided up to a 75% reduction (leaving 25% taxable) in taxable gains for business assets, and 40% (leaving 60% taxable), for non-business assets, for an individual.[11] Taper relief replaces indexation allowance for individuals, which can still be claimed for assets held prior to 6 April 1998 from the date of purchase until that date, but was itself abolished on 5 April 2008.