Emergency Budget 2010: CGT and IPT rise meets mixed reactions
As part of the coalition government's emergency Budget, Chancellor George Osborne has announced increases in capital gains tax (CGT) and insurance premium tax (IPT).
CGT will increase for higher rate taxpayers from 18% to 28% although entrepreneur's relief for CGT will also increased to £5m, from £2m, from 23 June 2010.
Barbara Bradshaw, chief executive of the Insitute of Insurance Brokers (IIB), said: “We had thought that CGT could be going up 40% - 50% and were expecting that a vast amount of brokers would appear on the market before the expected deadline, which we had thought would be next April.
“However, although the CGT increase is lower than expected
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