Posted by Adrian Trace on 23 Mar 2016
Capital Gains Tax Saving Opportunity
In George Osborne’s 2016 Budget speech to the House of Commons, he announced that from 6 April 2016, the higher rate of Capital Gains Tax (CGT) will be reduced from 28% to 20%, and the basic rate will be reduced from 18% to 10%.
If you are considering selling assets which will realise a capital gain, it is likely to be worth delaying the disposal until the new rates apply, where possible.
In addition, if you have sold stocks & shares in the past few weeks, which are subject to CGT at the old rates, there may be a limited time opportunity to obtain the new rates on the disposal, saving 8% CGT. Please contact Tax Innovations as soon as possible if this applies to you.
Capital Gains Tax Saving Advice
If you would like any advice regarding the above article or would simply like to discuss other ways in which we could help you or your business, please contact us on 01962 856 990 or email@example.com
- Property Partnership Incorporation and SDLT
- Top 10 Expat Tax Tips for Individuals Moving to the UK
- Tax Relief For Residential Mortgages
- Overseas Pension Changes 6 April 2017
- 2014/15 UK Tax Return filing deadline and penalties