CGT, VAT, public pensions... Prime Minister David Cameron has already warned today's emergency Budget will likely contain some of the harshest measures since World War II.
So what are they likely to be? CGT The coalition Government has already announced plans to increase CGT from its current level of 18% to closer to 40% for non-business assets, such as second homes, buy-to-lets and shares. But there are concerns over the Treasury's ability to distinguish between a business and a non-business asset. Accountants PricewaterhouseCoopers (PwC) say Osborne may unveil a higher rate of up to 50% for those assets held for the short term (one or two years) and a lower rate of 30% for those assets held for a longer period. VAT Expected to rise from 17.5% t...
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