News - Midlands
CGT an own goal, warns property expert
One of the West Midlands’ best-known property experts has warned the government risks scoring a double own goal with its plans for Capital Gains Tax changes. Carol Barrie, a property and construction specialist at accountancy firm RSM Tenon, said it may collect no CGT, no corporation tax, no stamp duty land tax and no contributions to local infrastructure costs. “Individuals owning development land will not bring it to market if they are facing a tax bill of 40 per cent or 50 per cent on any gain they make,” she said.