Budget: CGT fixed at 18% over £1m

clock •

Chancellor Alistair Darling has confirmed capital gains will be taxed at an 18% rate as of 6 April.

In his inaugural Budget speech just moments ago, Darling says while Capital Gains Tax (CGT) rate will be a flat 18%, tax for the first £1m of gains on business assets will be 10%. "And that will benefit over 80,000 businesses and investors in the next year alone – 90% will continue to pay Capital Gains Tax at 10%– one of the lowest rates in the world," the Chancellor says. Under the government’s proposal, taper relief has been abolished, while individuals will see a £400 annual exemption increase, to £9,600. Business leaders have been extremely critical of the Chancellor’s proposal, ...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Fifty years after 'Bogle's Folly', what comes next for financial advice?

Fifty years after 'Bogle's Folly', what comes next for financial advice?

'Indexing will continue to grow, but the wrapper through which investors access it will change'

Gillian Hepburn
clock 12 October 2026 • 4 min read
Chris Justham: Why the industry must 'entertain and engage' investors

Chris Justham: Why the industry must 'entertain and engage' investors

‘We can’t just offer them a dry cracker and ask them to chew it down’

Chris Justham
clock 07 October 2026 • 3 min read
Jupiter Merlin makes 'keystone' changes and cuts charges on Select range to attract advisers

Jupiter Merlin makes 'keystone' changes and cuts charges on Select range to attract advisers

Two new funds launched

Michael Nelson
clock 06 October 2026 • 6 min read