The announcement of a review into UK capital gains tax (CGT), which could see the alignment of CGT rates with those for income tax and a review of the current reliefs, allowances and exemptions could, law firm Royds Withy King has warned, have a major impact on buy to let portfolios, second home owners, and potentially individuals receiving an inheritance.
Rod Smith, a partner and head of Royds Withy King’s private client team in London said that despite it being easy to understand why the Government is looking to reform CGT and that changes may be straightforward to implement, “it will be a bitter pill to swallow for those a...