The new CGT regime is set to affect everyday planning, but things could have been worse, says Peter Rayney.

It is probably fair to say that the widely anticipated capital gains tax (CGT) changes in the emergency Budget were not as bad as many had feared they would be. Perhaps the main shock was that the CGT increase to 28% (for ‘higher-rate’ taxpayers) took place from 23 June 2010 rather than 6 April 2011 – the first time in living memory that CGT rates have changed during the tax year.

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