Capital gains tax to increase

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capital gains tax

The Times & The Sunday Times

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Rachel Reeves to raise capital gains tax on sale of shares

Summary

Nutrition label

72% Informative

Rachel Reeves will use her budget to increase capital gains tax on the sale of shares and other assets.

But she will not change the rate for second homes and buy-to-let properties.

Ministers have discussed going further but there are concerns that people would deliberately defer selling assets in a bid to avoid being hit by higher rates.

Reeves is also expected to end some reliefs to increase potential revenues.

The biggest tax rise in the budget is expected to be from the imposition of national insurance on employers’ pension contributions, which could raise as much as 12billion .

Reeves is also expected to look at inheritance tax and pension tax relief to try to balance the books.

Most of the additional tax from this measure relates to higher SDLT [stamp duty] receipts.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive