Pre-Budget Report : Changes to capital gains tax

In his Pre-Budget Report yesterday, the Chancellor announced a reform of Capital Gains Tax that is expected to take effect from 6 April 2008. Although the detail has not yet been published, it is expected that this will involve replacing the current range of tax rates (from 0% to 40%) with a single 18% rate.

For clients selling chargeable assets, such as a buy-to-let property, a business, or a limited company, the difference in tax payable as a result of this change could be significant. We are therefore asking all clients who may be considering such a sale within the next few years, to get in touch with us for a review of your position.

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