Private landlords have called on the government to abandon plans to increase Capital Gains Tax (CGT), and instead to work to reduce red tape around the lettings industry. That's the finding from Upad's latest Rental Confidence Index survey, which asked 257 UK private landlords "do you feel more or less confident in the market than you did last month".
54% of landlords said that they did feel more confident in the market. Some of their comments included:
• Rents and demand are rising as are capital values, interest rates are still low and don't look to be increasing for a while yet: what's not to like?
• For the last year there has been a steady increase in property prices and rental levels.
• Easier to let and good rates compared to last year.
Many of those who said they were less confident mentioned the proposed changes to CGT. Their comments included:
• If the 40% capital gains tax comes in, the...