Summary
The speech itself may have seemed short but the detail
was in the accompanying press releases and other documents. The main proposals,
which included some major changes, are set out below.
- The abolition of taper relief and indexation
allowance for capital gains tax (CGT)
- The introduction of a flat rate of CGT for
individuals of 18%
- A significant change in inheritance tax relief for
married couples and civil partners
- Non domiciles to pay an annual charge of
£30,000 for their tax advantaged status
- Proposals to stop the tax savings available to
businesses by income shifting between family members
- An increase in the car fuel scale
charge
You will find more detail in the following summary.
Please do get in touch if you have any questions.
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