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Tax Tip

Capital Gains Tax (CGT) what should you do? 22/02/11

On the 4th November 2010, The Chancellor of the Exchequer George Osborne announced the Budget will be delivered on Wednesday 23rd march 2011.

Thanks George!

Since then speculation has been rife, in particular about another move on Capital Gains Tax (CGT), not a bad bet when one considers the amount of manoeuvring Chancellors have made over the last decade in this field.
One of the main theories, is to bring the rates into line with current Tax levels (i.e. 20%, 40% and 50%), and if this is so, will the Chancellor apply the new rates with immediate effect, or wait for the New Tax Year – 6th April 2011?

Lavinia Newman of ABDS says:

“Chancellors have over the years not had any compunction in altering the rates and starting dates of CGT, so as we know the date of the Budget, if you have any share dealings in the offing, completing them before that date would prevent you being caught out by any changes to the rates, exemptions and allowances.”

If you need any help and advice on CGT and transferring shares or a similar matter don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning and business advice.”

ABDS of Southampton, For all your Tax and Business Advice

ABDS Chartered Certified Accountants of Southampton.

Tel: 023 8083 6900  E-mail:

For a full list of ABDS’ News Briefings go to:

ABDS Advice 22/02/11

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