Capital Gains Tax Rise in the Budget Could Be ‘Catastrophic’ for Investment and Business

Capital gains tax: how it works, and the pros and cons of another rise

Capital gains tax has emerged as a potential revenue source for the upcoming budget, with debate intensifying over whether rates should be increased further or aligned more closely with income tax levels.

‘John Healey has this Budget hike in his sights – check out latest tax threat’

Chancellor John Healey is being urged to hike capital gains tax again (Image: Getty) So instead, he’ll have to hike taxes, and one tax keeps getting mentioned again and again. Capital gains tax, or CGT. A host of Labour MPs and left-wing think tanks have been pushing for CGT rates to be hiked dramatically. If that happens, around half a million Britons every year could face massively bigger bills than they do today. We don’t know what Healey wi…

Capital gains tax rise in the Budget could be ‘catastrophic’ for investment and business

Equalising capital gains and income tax rates would be ‘catastrophic’ according to a personal finance expert, as rumours persist the tax could be in the Chancellor’s crosshairs in October’s Budget. Adrian Murphy, CEO of Murphy Wealth, said that the prospect could undermine the progress made on encouraging more people to invest – recent statistics on […]