All kinds of rumours are flying about what the new government will do to the capital gains tax rate. Will they hike it back up to 40%? Will any indexation relief or taper relief be introduced to take account of inflationary gains on assets? Will the tax be introduced this year or next?
It's fair to say a degree of panic has set in amongst some owners of second properties and shares. They are pondering whether to sell up now ahead of the tax or wait and hope the new regime isn't too punitive.
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