Cap­i­tal gains tax warn­ing

The Peterborough Evening Telegraph - - Uk&world Update -

TAx rev­enues will dive by £2.48 bil­lion if the Govern­ment in­creases the rate at which cap­i­tal gains tax is charged, a re­port warned to­day. Chan­cel­lor Ge­orge Os­borne is widely ex­pected to an­nounce plans to raise the rate at which cap­i­tal gains tax (CGT) is charged on non-busi­ness as­sets from its cur­rent rate of 18 per cent to 40 per cent or even 50 per cent in next week’s emer­gency Bud­get. But the Adam Smith In­sti­tute warned that rather than in­creas­ing the amount of rev­enue the Govern­ment re­ceived, the move was likely to re­duce it by nearly £2.5 bil­lion.

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