Budget 2016 - CGT reduction to spark mass BTL sell off?

[Mr Noble]

The chancellor has just announced that he is to reduce Capital Gains Tax from 28% to 20% for higher rate earners and from 18% to just 10% for lower rate earners.

I wonder if this will spark a mass sell of of BTL properties as people now have a significantly cheaper way to off load their property assets.





ETA - I hadn't realised that the CGT changes will not affect sales of residential property 2nd homes and BTLs. Sorry for the confusion. I'm off for a coffee.

Edited by Mr Noble on Thursday 17th March 10:38

[kiethton]

There will be corresponding surcharges for resi property to maintain current rates to "provide an incentive to invest in companies over property"

[Muncher]

CGT is not reduced on residential property, it remains unaltered, it will have no impact.

[Alpinestars]

Muncher said:

CGT is not reduced on residential property, it remains unaltered, it will have no impact.

This.

8% surcharge on gains on resi property ie, effectively as you were.