Daily Mail - The landlords and savers racing to sell off their assets...amid looming threat of Labour's capital gains tax raid

Landlords are preparing to dispose of homes and investors are set for mass sell-offs of their assets before Sir Keir Starmer can strip them of their gains via widely anticipated tax hikes in the autumn budget, financial experts have told MailOnline.

Harps Garcha, Director at Brooklyns Financial, said: 'This is another nail in the coffin for landlords, particularly those who became landlords by accident rather than choice, who are facing an increasingly tough landscape. 

'The combination of rising costs, stricter regulations, and the looming threat of an increase in Capital Gains Tax is pushing many to the brink, prompting some to consider selling before the new rules take effect.

'This is the last thing the rental market needs right now as recent statistics have shown there has been a reduction of 25 per cent in rental properties since 2019.'

For capital gains tax, the gain made is taxed - rather than the amount of money received - and it must be paid on a series of 'chargeable assets'.

The Government currently defines these as: 'most personal possessions worth £6,000 or more, apart from your car; property that's not your main home; your main home if you've let it out, used it for business or it's very large; any shares that are not in an ISA or PEP; or business assets'.

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