Get mortgage happy. 020 8517 1141

16 Nov 2020

Capital Gains Tax (CGT) – property

CGT is a tax paid on the disposal of an asset such as shares, bonds or property. Currently, when selling qualifying residential property, the tax is paid at 18% for basic rate taxpayers and 28% for higher rate taxpayers after an allowance of £12,300 in the current tax year.

We heard in July that the Chancellor Rishi Sunak was looking at this tax and it has been recently proposed that a future change could bring it in line with income tax rates raising the rate to 20% for basic rate taxpayers and 40% for high rate taxpayers.

It is important to say this hasn’t formally been announced but has been widely reported. Buy to let investors will feel further pain as it seems every year new legislation or tax changes have been brought in to negatively promote private residential ownership.

Should landlords decide to dispose of assets before a potential tax increase, then first-time buyers will certainly be ready to snap them up given the current demand.

For any help you may need or advice, please contact us.

Capital Gains Tax (CGT) – property

Privacy notice

HOME OF MORTGAGES will be what is known as the ‘controller’ of the personal data you provide to us. We only collect basic personal data about you which does not include any special types of information or location-based information.

Why do you need my data and what will it be used for?

We need to know your basic personal data so we can make contact with you and respond to your message, request or query. All the personal data we process is processed by our staff in the UK.

Who is my data shared with?

Your data will only be shared with third parties if this is necessary to respond to your request. If this is the case, we will seek your permission before passing on your details.

How long do you keep my data for?

We may store your data for up to six years past the end of any business relationship, after which time it will be securely destroyed. If you would no longer like us to process your data at any time, you have the right to object to processing of your data. To do this, please contact

What are my rights?

You have the right to object to the processing of your data. You also have the right to request access to your data at any time. You have the right to rectification and/or erasure of personal data or restriction of processing. If you wish to raise a concern related to how we have handled your personal data, you can contact us to have the matter investigated at If you are not satisfied with our response or believe we are processing your personal data not in accordance with the law, you can complain to the information commissioner’s office: