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Vast majority of advisers expect CGT changes in next Budget

News Team, 03/12/2020

The vast majority of financial advisers are tipping changes to the capital gains tax (CGT) regime at the chancellor’s next budget, a survey shows.

Eighty-three percent of 200 advisers surveyed by pensions provider Canada Life said they expect such changes. Overall, 42 percent thought there would be CGT changes that were broader in scope that those recommended by the Office for Tax Simplification (OTS).

The OTS report, released in November, made 11 recommendations, including ideas to reduce CGT allowances; remove some CGT reliefs for owner-managed business; and end CGT re-basing on death in favour of a new system.

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