Tax Relief for Landlords Selling to Sitting Tenants?

It is understood the Chancellor is considering using the October 2018 budget to introduce a tax break for investors who sell properties to sitting tenants, amid concerns that 40% of young adults are unable to buy a home.

Under the plan, from thinktank Onwards, landlords would not have to pay capital gains tax when selling to tenants who had been living in the property at lease threes years. Under the Onward plan the “good landlord” would be eligible for relief with the windfall split with the tenant.

It is also understood the budget will be used to cut pension tax relief to help fund the NHS.

Written by James Naylor

Partner, Naylor Solicitors LLP.

Leave a Reply