What the emergency Budget means for investors

TAX

So, the emergency Budget has put us out of our waiting-for-tax-hikes-induced misery.

The changes announced, it was considered, offered the right balance for fairness… blah… blah… blah. Debates on what could, should or should not have happened can now be put to one side around a coffee table. Now is the time for us all to concentrate on what has actually happened, and what these changes mean. In a nutshell, what has happened is: the Capital Gains Tax (CGT) for basic rate taxpayers has been maintained at 18%. CGT for all higher rate taxpayers has increased by 10% (to 28%). Everybody’s annual tax-free capital gain allowance has been maintained at £10,100 and is to be increa...