Treasury cuts to capital gains tax (CGT) thresholds, which have made an additional 87,000 taxpayers liable since 2023/24, have prompted the vast majority of advice practices to overhaul tax planning strategies, research finds.
Financial Software Limited (FSL) research found that just 11% of advice firms have made no changes in light of CGT reductions over the past three years. Some 57% of advisers surveyed said they had increased joint planning between spouses to maximise allowances. Half said they now placed greater emphasis on ensuring clients used their full ISA and pension allowances. While 31% said they had increased the use of loss-offsetting strategies. It added that six in ten advisers reported they recommended fewer general investment accounts. FSL said other notable shifts included: 29% ad...
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