The financial Press over the recent Bank Holiday Weekend strongly suggests that the looming November budget will see this tax being targeted for change.
As the Government looks to recoup the huge outlay so far caused by Coronavirus, they turn to which taxes will be the most palatable to adjust.
The experts seem to agree that Capital Gains is the most likely target. It’s likely that Entrepreneurs’ Relief benefit will be abolished entirely, and the base rate could rise in line with income tax rate, or a flat rate of 40-45%.
The Times on Sunday 30th August 2020