The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald and the Llanelli Herald
The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald and the Llanelli Herald. By Mark Jones, director of Carmarthen-based Clay Shaw Butler chartered accountants and business consultants. Being thorough comes as second nature to us chartered accountants. Which is why the Money Matters column is continuing to dissect the Government’s most recent Budget changes. This week, we take a look at the complicated world of Capital Taxes. Here are some of the key areas where the Government has taken action – Capital gains tax (CGT) rates The current rates of CGT are 18% to the extent that any income tax basic rate band is available and 28% thereafter. The government is to reduce the higher rate of CGT from 28% to 20% and the basic rate from 18% to 10%. The trust CGT rate will also reduce from 28% to 20%. The 28% and 18% rates will continue to apply for carried interest and for chargeable gains on residential property that do not qualify for private residence relief. I...