Possible hike in CGT

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Possible CGT rise dismissed as speculation The Mail on Sunday reports that Treasury officials are considering hiking Capital Gains Tax in March’s Budget and scrapping Entrepreneurs' Relief as a means of raising funds to pay for Boris Johnson’s election promises. The Conservatives manifesto has explicitly ruled out a rise in income tax, NICs and VAT. However, Treasury sources have dismissed the claims as speculation. The Sunday Times reports that accountants have been deluged by requests from business owners to bring forward sales of businesses ahead of a planned review of Entrepreneurs' Relief, which allows founders and investors to pay a reduced 10% capital gains tax rate if they sell out.

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