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u/Tirno93

Capital Gains Tax from 24% to 45% with Prime Minister Wes Streeting
▲ 68 r/uklandlords+1 crossposts

Capital Gains Tax from 24% to 45% with Prime Minister Wes Streeting

Higher rate taxpayers:

  • Current CGT - 24%
  • Proposed CGT - 40%

Additional rate taxpayers:

  • Current CGT - 24%
  • Proposed CGT - 45%

If you bought a BTL property for £250k. It's now worth £400k - a £150k gain. Under today's rates you'd owe ~£36,000 in CGT. Under Streeting's plan? ~£60,000.

An additional problem long term investors get no allowance for inflation. Invest £100k in 2016 and get £150k back today, and that's a gain of only £10k after inflation. But you pay £12k tax on that £10k of "real" gain. Effective rate 120%. Its a fiscal loss, that is a disincentive to long term investment

Source: Twitter/x

u/Tirno93 — 15 hours ago
▲ 211 r/TheInbetweeners+1 crossposts

What is the worst thing you did on your test and still passed?

I want to give some encouragement to those who have a test around the corner (and I also thought this could be a funny topic of conversation… 🫣).

For context, I passed my test a couple days ago and genuinely would’ve bet my last £500 when I pulled back into the test centre that I had failed (I passed first try!). I’d also never passed a mock test with my instructor before.

During my test, I:

• touched the examiner’s leg instead of the gear stick.
• gave way to someone on the left at a roundabout.
• touched the curb slightly during a manoeuvre but played it off as a pothole.

I genuinely believe I’m a decent driver, however nerves can get the better of you!! Hopefully this can give some motivation (and maybe some giggles) to the silent lurkers of this subreddit like myself circa last week and the weeks prior.

Good luck!

reddit.com
u/Tirno93 — 3 days ago