Further CGT changes?
Discussion
I am considering selling one of my businesses and will currently qualify for Business Asset Disposal Relief and therefore benefit from the 10% CGT rate.
Given that Hunt has just introduced CGT changes that apply from April 2023 what's the chances he will change the rules again in the next budget?
Worse case personally would be abolition of BADR and CGT at prevailing income tax rate that would result in a tax bill that may change my mind about selling.
I suppose introduced changes are not likely to take effect immediately, but sales in my business usually take around 4 months which makes it a bit of a gamble.
Any thoughts?
Given that Hunt has just introduced CGT changes that apply from April 2023 what's the chances he will change the rules again in the next budget?
Worse case personally would be abolition of BADR and CGT at prevailing income tax rate that would result in a tax bill that may change my mind about selling.
I suppose introduced changes are not likely to take effect immediately, but sales in my business usually take around 4 months which makes it a bit of a gamble.
Any thoughts?
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