May 13th in Accountancy News, Accountancy Profession, Money, News, Tax by Editor .
Will CGT Increase be Backdated?
It’s rare that tax legislation is retrospective but…
…anything’s possible in the current environment.
Accountancy Magazine: Accountants have said that the increase in capital gains tax for non-business assets could possibly be backdated to 6 April 2010, as the details around the increase have not yet been published.
Doubtful it would result in mass riots given the nature of the people likely to be affected. But as an early step towards becoming truly unpopular, the coalition government could make serious headway if backdating goes ahead.
