Changes to rates of tax on carried interest
The 18% and 28% Capital Gains Tax (CGT) rates currently applied to carried interest gains remain unchanged for the current tax year. This charge applies to individuals who provide investment management services to funds and receive carried interest on which they...
Autumn Budget 2024 – Capital Gains Tax
In the Budget it was announced that the rates of Capital Gains Tax (CGT) are to be increased with immediate effect. The main rates of CGT that apply to assets other than residential property and carried interest will increase from 10% to 18% (for Income Tax basic rate...
Will 10% tax on business disposals survive?
While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming Budget. If you are contemplating selling your business soon, we can assist you in evaluating...
Current rates for Capital Gains Tax (CGT)
CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain, they may be eligible for a reduced CGT rate of 10%. Once their total taxable income and...
