Changes to Capital Gains Tax for 2016/17

Changes to capital gains tax (CGT) and entrepreneurs’ relief claims have been introduced in the Finance Bill 2016.

CGT rates for 2016/17 have been reduced from 18% to 10% for basic rate taxpayers, while for higher rate taxpayers the rate on gains over the unused part of their basic rate tax band will be charged at 20% (previously 28%).

A number of changes relating to entrepreneurs’ relief are also set to be introduced, including:

Announcing the changes in his Budget 2016 speech, Chancellor George Osborne, said:

“We’re putting rocket boosters on the backs of enterprise and productive investment.”

Contact us to discuss your CGT and entrepreneurs’ relief.

No Comments

Leave a comment

We would love to read your feedback on the above post. Required fields are shown with a *. Your email address will not be published

Allowed HTML tags are <a href="">, <p>, <br>, <i>, <em>, <strong>, <b> and <strike>.

Jacobs Allen is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

Something to shout about

Coronavirus Job Retention Scheme (CJRS) FAQs

The vast majority of questions we have been asked are about the Coronavirus Job Retention Scheme (CJRS). You can view all of our FAQs here.