Emergency Budget 'was property investor-friendly'
Property professionals
30th June 2010
The recent emergency Budget from the coalition government was largely "landlord-friendly", it has been suggested.
Expressing his view on the latest fiscal policy measures from the Liberal Democrat-Conservative administration, Tom Entwistle, director of website LandlordZONE.co.uk, welcomed strategies such as reducing red tape.
He also praised a decision to scrap Labour plans to alter the holiday lettings tax incentives system and predicted that the rise in capital gains tax (CGT) for higher earners and a jump in VAT to 20 per cent will have little effect on the sector, something which those seeking insurance for buildings may like to note.
"On the whole, despite the earlier fears, the Budget has been relatively kind to business and property investors," Mr Entwistle said, although he cautioned that access to mortgage finance continues to remain tight and is likely to stay this way to be for some time.
The emergency Budget was presented to parliament by chancellor George Osborne on June 22nd and included a rise in CGT from 18 per cent to 28 per cent for richer taxpayers.
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