Neil MacGillivray: Are we about to wake up to new CGT nightmares?

Déjà vu?

clock • 4 min read

With capital gains tax (CGT) being the latest tax to go under the potential reform spotlight, Neil MacGillivray suspects further CGT alternations could lead to even more tax nightmares ...

The Institute for Public Policy Research (IPPR) issued a report in September, Just tax: Reforming the taxation of income from wealth and work, just in time for the start of what turned out to be a much-shortened conference season. Part of the reform proposed by the IPPR included that capital gains should be taxed at the same rates as income, and consideration given to introduce some form of indexation relief in order that gains equivalent to the rate of inflation are not taxed. Got a feeling of déjà vu? Gains were first tied to the rates of income tax more than 30 years ago and that r...

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

More on Tax planning

Minimising clients' IHT liabilities: Where there's a will there's a way

Minimising clients' IHT liabilities: Where there's a will there's a way

There are ways to mitigate an anticipated inheritance tax bill

Richard Burgess
clock 08 April 2024 • 4 min read
HMRC warns about taking benefits until it fixes LTA abolition rules

HMRC warns about taking benefits until it fixes LTA abolition rules

Request came just two days before the LTA abolishment date

Jonathan Stapleton
clock 05 April 2024 • 1 min read
Child benefit changes extend tax trap to more parents

Child benefit changes extend tax trap to more parents

'We know that lots of parents are bamboozled by the system'

Laura Suter
clock 04 April 2024 • 3 min read