Pre-Budget Predictions | Quotient Financial


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	News 01-Nov-09 Pre-Budget Predictions Alistair Darling looks likely to use the Pre-Budget Report to continue his programme of tax increases for higher earners The chancellor is expected to increase the main rate of capital gains tax to 25% in the upcoming Pre-Budget Report. Entrepreneurs’ relief, through which individuals pay an effective rate of 10% CGT, is expected to remain in place but may be phased out over five years. Among the other new measures predicted are the introduction of a new wealth tax on fortunes over £1 million, lifetime restrictions on inheritance tax relief for business and agricultural property, and lowering the threshold for the new 50p rate of income tax to earnings in excess of £110,000. Simultaneously, the Chancellor might extend for one further year the temporary measure of allowing businesses to carry back trading losses of up to £50,000 for three years, to help support struggling businesses in the here and now. Back to News