Buy-To-Let Landlords Denied Tax Break

Buy-to-let landlords have been denied a tax break on their property profits as the Chancellor excluded them from a big capital gains tax cut. George Osborne announced in the Budget that he is significantly cutting the rate of tax paid on capital gains - but not for investors who are selling property - at the same time as he confirmed a stamp duty hike for second homes but gifted homebuyers extra help. Landlords will continue to be stung with a hefty 28 per cent capital gains tax bill when they sell up. Residential property was deliberately excluded from the tax cut that will see investors in other types of asset benefit from the higher rate of capital gains tax being reduced from 28 per cent to 20 per cent, while the basic rate will be reduced from 18 per cent to 10 per cent. Read more on the Daily Mail website.