Rachel Reeves leaves capital gains tax on property untouched – London Wallet

The chancellor Rachel Reeves has just announced that there will be no increase to capital gains tax (CGT) on the sale of second homes.

Capital gains on profits from the sale of shares and some other assets, which is currently levied at 20%, is to increase by several percentage points. But the rate will not change for second homes.

Reeves told the Commons that CGT will rise from from 10% to 18%, and the higher rate from 20% to 24%.

But the rates on residential property will remain at 18% and 24%.

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