Rachel Reeves is considering raising UK capital gains tax in her Budget on October 30. By doing so, she would be following in the footsteps of a long line of British chancellors who have changed the rate since it was first introduced by Labour nearly 60 years ago.
What level has UK capital gains tax been historically?
Generally, it has fallen between two opposite poles; higher rates with more generous reliefs and lower rates with few reliefs.
The tax was introduced by the Labour chancellor…
Read the full article here