Soon you could pay income tax on selling a Buy to Let!

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If you thought paying Capital Gains at higher rates was bad enough wait till you have to pay income tax rates on the gains!

As reported by Property 118 on 25th August 2016

The government have slipped some additional clauses into the finance bill 2016 “Sections 75-78: taxation of profits from trading and investing in UK Land” which make profits made on the sale of buy-to-let property become taxable income, at income tax rates.

They have started a campaign to try to stop the change https://www.property118.com/capital-gains-on-btl-to-be-taxed-as-income/89928/

Its another rule that won’t apply to companies.

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steve@bicknells.net

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