With the amount of noise there’s been about it, I’d say a big overhaul of CGT is pretty much a certainty. On the other side of the Red Wall, it’s no doubt seen as a fat cat tax and the rates for property sales are already more than those for sales. I doubt they’ll do more extreme things, scrapping or cutting the allowance, and, bearing in mind how much they need to raise to pay for All This, there are worse options. For better or worse, it’ll probably mean I won’t be selling up and retiring. Back to the ‘until I drop’ option.
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
