Changes to way buy-to-let property will be taxed.

Significant amendments to the Finance Bill slipped in at committee stage set a disturbing precedent of avoiding proper consultation and scrutiny, the Law Society said recently.

The changes, which alter the way buy-to-let properties will be taxed, may result in profits from the sale of an investment property becoming liable for income tax rather than capital gains tax as at present, according to the Society.

The Finance Bill will go before the House of Commons for its report stage on 5 and 6 September.

Source of information from The Law Society Gazette, read the article in full here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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