Posted by Nick Day 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
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