Industry observers are predicting a significant rise in CGT to be announced in the PBR on 2 December, given that the regime in the UK is one of the most generous in Europe, The Daily Telegraph has reported.
Currently the sale of business assets held for more than two years incurs a capital gain tax liability of only 10%, well below the average rates in most other countries that impose CGT.
The possibility of a rise in CGT could prompt businesses to sell assets early to take advantage of the current rate.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay