Landlords are selling up shop amid fears Labour will whack up capital gains tax and and implement further regulation, according to a survey by The Royal Institution of Chartered Surveyors’ (RICS). From May to July, landlords instructing estate agents fell by 16% overall, dropping by a whopping 59% in East Anglia and 39% in the East Midlands. Sell now or pay later…

The survey points the blame of the drop of buy-to-lets at Reeves and her clan’s likely tax rises, coupled with the new Renters Rights Bill, which ends fixed-term penalties meaning landlords cannot make renters leave without clear fault-based grounds. Meanwhile, the number of houses to rent has dropped by nearly half since 2019 – and rent is only going up. Yet again the effects of a so-called ‘pro-growth’, planning reform orientated Labour are coming to light. And this is just landlords reacting pre-emptively… 

Labour’s penchant for high taxes has sent shivers down the spines of British business owners, prompting a flurry of sales as they scramble to escape the looming tax storm. Research from Lubbock Fine reveals a staggering 71% surge in mergers and acquisitions as business owners race to sell up. They fear Rachel Reeves’ imminent budget will tighten the tax noose around entrepreneurs with potential increases in capital gains tax…

Further fears that Labour will reduce business asset disposal relief, which allows people who own more than 5% of a company to sell their stake and pay a lower tax rate on their profits have fuelled the rush. Meanwhile, Labour have notably avoided any mention of tax rises in this bracket. If this is how business owners are reacting to potential tax hikes, one can only imagine the exodus that would follow if Reeves does announce a heavy-handed Autumn Statement…