One of the dilemmas facing the new government is how to raise money by increasing taxes. Politicians do no like increasing income tax because it is unpopular.
One area which is being considered is Capital gains Tax which affects Buy to Let Property amongst other things. It is being suggested that the tax on the profits of selling such a property could be raised from 18% to 40 or even 50%.
It is one area where it could be vital to talk to a financial planner.
Posted by Sean Wilson, APFS, Independent Financial Advisors (IFA), Swindon, Wiltshire.