Budget Media Watch: CGT tax hike 'front-runner' as personal allowance rise targeted

What the papers are saying about the Budget

Jen Frost
clock • 2 min read

Capital gains tax has been touted as the likeliest tax hike in October’s Autumn Budget, with the chancellor reportedly mulling a rate rise to as high as 45%, reports have suggested.

The I reported last Wednesday that CGT was the "front-runner" when it comes to potential tax increases in the 28 October Budget. The paper pointed to a "source close to Downing Street" as having said that CGT would be high on the list of measures. The Telegraph reported yesterday (20 September) that prime minister Andy Burnham and chancellor John Healey could be considering raising CGT to "as high as 45%" as they look to increase the income tax personal allowance. Labour donor Dale Vince is reported to have sent the policy proposal to equalise CGT with income tax to the Treasury an...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

Jen Frost
Author spotlight

Jen Frost

Editor at Professional Adviser

More on Tax planning

Succession planning: Surrogacy and the tax challenges of having a US citizen child

Succession planning: Surrogacy and the tax challenges of having a US citizen child

'Coordinated advice is often required to ensure that family objectives can be met'

Kelly Ricketts
clock 18 September 2026 • 3 min read
Average lifetime giving nears £5k a year as retirees act to avoid IHT

Average lifetime giving nears £5k a year as retirees act to avoid IHT

The average retiree spends £27,159 a year, £5,000 more than last year

Laura Miller
clock 17 September 2026 • 3 min read
'Prepared, informed and confident': Getting clients match fit for 28 October

'Prepared, informed and confident': Getting clients match fit for 28 October

'The most valuable Budget planning is rarely about trying to second-guess the chancellor's speech'

Andrew Tully
clock 16 September 2026 • 4 min read