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Osborne cuts CGT to 20%… but not for property


Chancellor George Osborne has moved to reduce capital gains tax from 28 per cent to 20 per cent.

For basic rate taxpayers, CGT will fall from 18 per cent to 10 per cent.

The changes will come into effect in three weeks’ time.

However rates will remain at the current levels for residential property and carried interest

Delivering his Budget speech today, Osborne said: “Our capital gains tax is now one of the highest in the developed world, when we want our taxes to be among the lowest.”


Mortgage Mole

Mortgage Mole: Car sick

Intrepid Mole, digging up the stories behind the news Car sick Comparisons that highlight the severity of the UK housing shortage are rarely new to Mole readers, well versed as they are in the ebb and flow of such things. But never has Mole heard house prices benchmarked against the cost of buying a car. […]


United Trust Bank increases lending by 48%

United Trust Bank increased lending by 48 per cent to £434m in the year ending 31 December. The lender reported a 67 per cent increase in post-tax profits to £12.3m, while income rose 34 per cent to £31.6m. Customer deposits grew 46 per cent to £476m. UTB chief executive Graham Davin says: “2015 was yet […]


Osborne slashes corporation tax to 17%

Chancellor George Osborne has again taken the axe to corporation tax, with the rate set to fall to 17 per cent in 2020. The corporation tax rate is currently 20 per cent. Under existing plans was due to fall to 19 per cent in April 2017 and 18 per cent by 2020. However, giving his […]

Parental leave and pensions

Fiona Hanrahan  – Senior Product Insight and Technical Support Analyst We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. How does parental leave impact the funding of workplace pension schemes? A member of a defined […]


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