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Property investors suffer as capital gains tax increased

The new coalition government has confirmed that capital gains tax on property assets will be increased from the current flat rate of 18% with speculation the new figure could be as high as 40%. This is a bitter blow for the UK property sector which has been under pressure for some time now but it is believed that the additional income created will be used to increase the income tax threshold to the £10,000 figure suggested by the Liberal Democrat party.

Over the next few days we are likely to see a number of new policies and tweaks to the tax system introduced by the coalition government as the difficult task of amalgamation Liberal Democrat policies and Conservative party policies begins. Even though the two political parties have reached an agreement regarding the terms of a coalition there is still much work to be done to ensure a smooth and stable government in the short, medium and longer term. While many believe that plans for a coalition government lasting five years are adventurous to say the least, there is no doubt we are off to a good start.

It may be difficult for the Conservative party and the Liberal Democrat party to give way on some of their central policies but we are in a new age of compromise in the UK political arena.

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