Capital Gains Tax Updates
February 20th, 2008When Gordon Brown became Chancellor, one of the first things he undertook was a major reform of CGT including introducing taper relief to reduce the gain on assets. The first thing his successor does is kick all that into touch, abolish taper relief and introduce a flat rate of 18%. He has also abolished indexation allowances that allowed you to adjust the cost of assets based on inflation and reduce the gain in that way. There are some winners, but mainly losers. Chancellor Darling has significantly increased the burden of Capital Gains Tax.
For more information please contact Source Independent Financial Advisers
