The October pre-Budget proposals to lower the CGT rate from 24% (on gains on assets held for more th...
The October pre-Budget proposals to lower the CGT rate from 24% (on gains on assets held for more than 10 years) to a standard rate of 18% would have been welcome news for some UK investors. Also, the proposal to remove indexation allowance and taper relief fulfils a promise to simplify CGT that is long overdue. And, following fierce criticism from a number of business bodies, the Chancellor has reintroduced the 10% rate on the sale of business assets up to £1m. This has to be good news for small businesses. All of these changes, if adopted, will take effect from April 2008. Unfortunate...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
