Guide to Budget CGT changes

In the run-up to the emergency Budget many IFAs saw an increase in the enquiries relating to Capital Gains Tax (CGT). The feared increase in CGT rates to 40% or 50% did not materialise and we are left with what is generally thought to be a much more reasonable figure of 28% for higher earners. The changes took effect from midnight on 22 June, so there is probably no more planning to be done. However, it is worth taking the time to review how things stand now. The rate of CGT will remain at 18% for individuals with total taxable gains and income of less than the upper limit of the ...