After what was probably the most anticipated budget in living memory, it was nothing more than a ‘damp squib’ when it came to Capital Gains Tax (“CGT”). Predictions of CGT rises were rife, particularly in the latter stages of 2020 as the cost of the pandemic became clearer. However, with several “leaks” as budget day came closer, it looked as though it would be corporation tax would be increased rather than CGT, and ultimately the leaks were correct, with no changes to the rate of CGT.
Attention now turns to the 2022 Spring Statement and we expect that with a recovery hopefully on the cards, the Chancellor’s generosity will be running thin; he has repeatedly alluded to “fixing the public finances” when the recovery is underway. The current political environment does not lend itself to big cuts in spending which means inevitable tax rises. Our view for a while now has been that CGT will rise and there is always the risk an announcement will come in the Spring of 2022, albeit we do not think rates will rise to the point where they are in line with income tax rates. With a review into CGT ongoing, it seems like an easy target for the Chancellor.
Então, o que isso significa para os empreendedores que desejam sair nos próximos meses/anos? Bem, se você estiver em posição de considerar uma saída de saída/parcial, recomendamos falar com um consultor para considerar suas opções, pois mesmo uma pequena mudança nas taxas pode levar a um aumento significativo na sua conta de imposto após a saída. Se você deseja se aposentar e perceber o valor total dos negócios ou de risco tirando algum dinheiro da mesa, podemos ajudá-lo a avaliar suas opções e decidir a melhor rota para a frente, enquanto as taxas de CGT permanecem baixas. Insights
Please do get in touch with James McBain Allan or any of the Deal Makers to discuss your options.
