Capital Gains Tax Changes…

Ray Stewart Business, Tax Matters Leave a Comment

I have had several clients ring me in a panic this week about capital gains tax (CGT) and the “changes” they have read about in the newspapers.

They have heard the annual CGT allowance is being slashed from £10,100 to £2,500. They have heard the rate of CGT will rise from 18% to 50%, and they have heard all this will be backdated to the 6th April 2010, messing up deals that have already been done.

The simple fact is…