As the Conservative Party today re-affirmed plans to help first-time buyers with a 20% discount on new homes, the Residential Landlords Association (RLA) urged changes to Capital Gains Tax (CGT) to provide a further boost by freeing up ex- rental homes.
Proposals in the RLA manifesto would see landlords who sell a former rental home to a first-time buyer benefit from relief on any Capital Gains Tax (CGT) payable on the property.
RLA Chairman, Alan Ward said
“This is a sensible policy that could increase the number of properties available to first-time buyers.
“It may also allow a number of landlords to exit private renting, especially those for whom the level of CGT makes selling their property marginal, and who can feel trapped in the sector.
“Offering roll-over relief, makes the sale viable and would see more properties on the market for first-time buyers.”