Capital gains tax proves a growing concern for advisers

In a study commissioned by The Lang Cat involving more than 130 financial advisers, more than 91% reported that CGT is of greater concern for them and their clients compared to two years ago. This comes as speculation mounts about a potential overhaul of the tax regime in the Labour government's first Autumn Budget on 30 October.  High-rate taxpayers currently pay a 24% levy on gains from residential property or 20% on other assets. Industry commentators suggest this could be raised to match income tax, meaning a rate of 40% or 45%. The latest statistics from HMRC show that since 2...