George Osborne announced that CGT would stay at 18 per cent for basic rate taxpayers and increase to 28 per cent for higher-rate taxpayers. He also announced the tax-free threshold would stay at £10,100 after considerable pressure from the Conservative backbenchers and a campaign led by The Daily Telegraph.
The changes were welcomed by many as being far less draconian than feared and for partially protecting long-term shareholders.
However, accountants gave warning that many basic-rate taxpayers could have been misled by Mr Osborne's statement during the Budget. |
