Home Featured What Could Proposed Changes to Capital Gains Tax Mean For You?

What Could Proposed Changes to Capital Gains Tax Mean For You?

by Keerat

Ross Coombes, Financial Planning Director - Investec Wealth & Investment - ross.coombes@investecwin.co.uk


If we learned one thing in 2020 it is that nothing is certain, and that’s true of a potential tax change rumoured to be landing in 2021. The government need to foot the bill for the significant economic fallout of the Covid-19 pandemic somehow, so it’s hardly surprising that members of the Treasury select committee are now considering changes to capital taxation.

If enacted, these changes will have a material impact on business leaders, higher rate taxpayers and investors alike.

While nothing is a given, this article explores what the possible changes could mean for you at a high level.

What are the potential changes to the CGT allowance and CGT rates?
The current CGT rates are 10% for basic rate tax payers and 20% for higher rate and additional rate tax payers (18% and 28% respectively on second properties). The proposed changes include adjusting...

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