Advisers report more clients needing CGT advice after slashed thresholds

FS research, carried out in conjunction with The Lang Cat, found that advisers reported 18% of their clients were impacted by CGT in 2022/23. This more than doubled to 37% in the 2024/25 tax year. In the Autumn Budget last year, chancellor Rachel Reeves cut the annual exemption amount for CGT from £12,300 in 2022/23 to £3,000 in 2024/25, bringing in an additional 87,000 taxpayers into the scope of the tax. Over the same period, one in ten (10%) advisers reported gaining new clients because of CGT changes and/or unexpected liabilities due to cuts in the tax-free allowance. According...