Did you know that with effect from 6 April 2016 the higher and basic rates of capital gains tax will be reduced? The higher rate of capital gains tax will be reduced from 28% to 20%, and the basic rate from 18% to 10% for disposals made on or after 6 April 2016.
Great news for some investors, but not for others as the reduced rates will not apply to gains made on the sale of residential property, whether situated in the UK or overseas.
This change means that timing is critical. If you are about to dispose of an asset, other than a residential property, a short delay could save you ££’s. For more information, please contact Lesley Sutton on 01484 550037 or email email@example.com.