Fidelity calls on Govt to reintroduce indexation with CGT rise

The company says failing to factor in inflation during the period the investor owned the asset would mean much of the increase in an investor's tax bill would be based on a misleading nominal gain, rather than a real inflation-adjusted profit. CGT on non-business assets could rise to as much as 50% in line with income tax under new Government plans. Without indexation this would more than double the tax bill for thousands of investors, Fidelity analysis suggests. Prior to a Labour rule change, indexation meant if an asset merely held its value in real terms, the owner should not ha...