Coalition confirms CGT hike for non-business assets

In its programme for Government, published today, the coalition sets out plans to make the taxation system fairer and more competitive by making a commitment to raise the personal allowance to an eventual figure of £10,000. As expected, the increase in personal allowance will be funded by a hike in CGT for non-business assets at rates "similar or close to" those applied to income. The Government also confirmed there will be "generous exemptions" for business activities after Chancellor George Osborne last night unveiled plans to lower and simplify corporation tax. "The Government b...