Originally Posted by
Bjauck
Are you referring to council revaluations every few years? CGT would apply no doubt when the property is actually sold. If CGT applies on capital gains on property when sold, then the owners have no extra tax to pay until it is sold. Also A comprehensive CGT with no exemptions would likely be introduced with tax reductions in other areas. But if you are heavily invested in an expensive home, you would probably end up paying more tax when you sell it, especially if you have owned it for many years and have kept an interest-only mortgage. However I think owner-occupers will be safe, such a proposal would be deeply unpopular!
Capital gains tax will have the biggest burden on those who buy their properties with small deposits and enjoy the largest property price gains. In rising markets, their equity will increase the most and their capital gain will be large.