CGT rates cut

CGT rates cut

March 17th, 2016• Comments Off on CGT rates cut• Posted By Greenwood

The higher rate of Capital Gains Tax (CGT) will be cut from 28% to 20% this April. In addition, the basic rate of CGT will be cut from the current 18% rate to 10% at the start of the new tax year on 6 April. Budget documents show that the government estimates the changes to CGT will cost it more than £600m a year from 2017-18 onwards. However, the old higher rates will still apply to gains on the sale of a residential property that is not a main home (such as a second home or a buy-to-let property), and also to “carried interest”.

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CGT rates cut

CGT rates cut

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