89% of British landlords face higher CGT on home sales from April 2023 due to reduced personal tax-free allowance.

89% of British landlords will face higher capital gains tax (CGT) on home sales from April 2023, despite Chancellor Jeremy Hunt's recent budget cut to the CGT rate. This is because the tax reduction coincides with a shrinking personal tax-free allowance, resulting in most landlords paying more tax than in 2022. The changes will impact newer landlords and those selling in cheaper markets the hardest.