Capital Gains Tax Increases

Dear Members,

Craig Harrisson Corporate Partner at Tollers, reports, a significant increase in business sales.

This is driven by the mooted plans to level up Capital Gains tax with Income Tax, and the possibility that the Chancellor may act on this in next week’s budget. The higher rate of Income tax is currently 40%, and Capital Gains tax sits at 20%.

It is thought likely that the Chancellor will increase Capital gains tax to 40% at some point in the not too distant future.

You can contact Craig on craig.harrisson@tollers.co.uk

Chamber Thoughts

Is now the right time to be raising taxes on business people? Clearly not. Should CBILS loans be used for Acquisition? I am not sure. They were intended for survival purposes. Are these things going on? Almost certainly.

There is more to come out on the use of CBILS and Bounceback loans, they have been widely abused.

Which is why you need a Lawyer.

Nick

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