Tales from the property front line… is nobody going to close the flipping door?
Espresso with a buy-to-let friend. He’s near retirement and has a couple of small flats which were bought as a mini-pension fund. “What do you think of the CGT issue?” I ask.
“It’s been a worry,” he tells me, “but I’ve been to see my accountant and talked to other landlords. I’m putting the bills at the flat in my name, I’ve back-dated the council tax and I’m going to flog it as soon as I can as my main residence.”“The thing is”, he says, “I wouldn’t have minded paying 18%, but who the hell knows what it might be in the future. So, I’ll sell now and pay nowt.” Where there’s a will there’s a flipping way.
Tracy Kellett runs leading buying agents BDI Homefinders. Follow her on Twitter, here.
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