Emergency Budget 2010: Capital gains tax increased from midnight tonight
Chancellor George Osborne, has announced that from midnight tonight, capital gains will be taxable at either 18% or 28% depending on whether the taxpayer pays income tax at basic rate or higher rate.
The Entrepreneurs’ Relief, which taxes gains at a reduced rate of 10% will, from tomorrow, apply to gains of up to £5million (up from £2million).
Date: 22nd June, 2010
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