December 2024

UK Budget 2024: Stability in Capital Gains Tax Rates Brings Relief to Rental Market

The UK Government’s decision in the 2024 Budget to moderate increases in Capital Gains Tax (CGT) rather than aligning it with income tax rates has been welcomed by landlords and property professionals alike. The revised rates—rising from 10% to 18% for the lower rate and 20% to 24% for the higher rate—strike a balance between addressing fiscal priorities and maintaining stability in the property market.

This measured approach helps prevent a feared surge in property sales that could have disrupted the rental market. By avoiding sharp rate hikes, the government has encouraged landlords to retain their properties, ensuring the availability of much-needed rental housing amidst rising demand.

The decision also provides much-needed certainty for landlords navigating a challenging economic environment, allowing them to focus on maintaining their properties and meeting the needs of tenants.

The rental market plays a critical role in housing the UK population, and stability in CGT rates helps to safeguard its resilience.

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Bournecoast Property Agents offer a trusted lettings service to landlords. We currently manage hundreds of properties, each of which is administered according to the landlord's specific needs, whether they are seeking a premium income through holiday and winter lets, or a greater degree of security provided through long term lets. Our landlords also benefit from a range of the following services and benefits.

• 3rd generation family business providing quality accommodation for over 60 years in Bournemouth, Poole, Christchurch and the surrounding areas.
• A true commitment to our landlords, some of whom have been registered with since when the Directors’ grandfather was running the company.
• National advertising, through features, national publications and Social Media campaigns.  
• A marketing team who work tirelessly on developing marketing campaigns to generate more holiday bookings for our clients.
• Bournemouth, Christchurch & Poole Tourism membership and advertising through the local Destination Tourism Associations.
• A dedicated customer service department and out of hours service for all managed properties.
• We have a large database of existing clients that book with us year after year.
• The option to have linen and towels provided at the property at no additional cost to yourself.
• External portal website advertising (airbnb - booking.com - vrbo).
• Dedicated staff each with a significant role to play in the managing of your property, through the summer and winter periods.

Click here to read reviews about the Bournecoast services.  If you need further support, please telephone our friendly team on 01202 437 888 or contact them here.