Budget 2010: CGT for high earners climbs 10% from midnight

George Osborne said CGT for the majority of people would remain unchanged at 18%. The Chancellor said he had considered taper relief but that it was "too complicated". A 10% CGT for entrepreneurs, which currently applies to the first £2m in qualifying gains, will be extended to the first £5m. The annual CGT allowance will be kept at £10,100 per person and will rise in the coming years in line with inflation. Chief Executive of Assetz Stuart Law says:"Osborne's CGT increase to 28% remains lower than the rates we had three years ago, of up to 40%, before Labour introduced the 18% ...