Following the dramatic events that led to the creation of the new Conservative-Liberal Democrat Coalition Government, a number of major tax reforms have been announced in the Government's Coalition Agreement. Further details are expected to be provided in the new Government's first Budget on 22 June 2010, and these announcements will almost certainly include details of major tax rises.
The Rawlinson & Hunter Election Tax Update explains the tax proposals that have already been announced in the Coalition Agreement, the further tax proposals that are likely to be announced in the Budget, and the tax rises that were announced by the previous Government but which are not due to take effect until next year. In addition, our Election Tax Update highlights those taxpayers who should be considering urgent action before 22 June in order to mitigate the impact of the proposed rise in capital gains tax rate from 18% to up to 50%.
Please click here to view the update.