Capital gains tax

There is seemingly endless doom and gloom in the Press about what draconian changes the Chancellor may make to Capital Gains Tax. Any changes would seem to be announced in the Budget in March and would be effective from 6 April 2021. That is, of course, exactly the panic stricken situation which Governments have recently been trying to avoid by having an autumn Budget!

Whilst we do not know what may happen there are some sensible moves that can be made - putting assets in to joint names with a spouse, selling before 6 April 2021 etc. However, it is a fundamental principle of sensible tax planning not to try to guess what changes may be forthcoming in tax legislation.

We can discuss and advise on what may sensibly be done now. Call our Tax Dept on + 44(0)1590 688838 and ask for Caroline or Sarah

New Forest Tax Accountants