What are Chancellor Rachel Reeves' options on property tax ahead of the November budget? 💼
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Chancellor Rachel Reeves has some big decisions to make ahead of the Budget in November 💼
Economists say she is on track to break her own rules on government borrowing unless she can find billions to make up the difference between the amount being spent on public services and generated through taxes.
To fill the gap, reports have suggested the Government is considering shaking up property taxes!:
🔹National Insurance tax for landlords
🔹Capital gains tax changes
🔹Abolishing stamp duty (despite it bringing in £11.6bn in the last financial year?!)
🔹Introducing a national property tax
🔹Replacing council tax
For more detail on the sub-sections above, you can read the full article from BBC by clicking here 👆
If you would like specific advice on how to best plan your property tax payments, email scott.sneath@cavendishproperty.co.uk - Scott will put you in touch with the right accountant to suit your requirements 📧
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