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By Alan Harvey
Public spending – and borrowing – hit record highs amid the Covid-19 pandemic and a shift is likely to be on the horizon to help get the UK’s finances under control.
Following the Queen’s Speech earlier this month, which referenced many changes in legislation, speculation around what it might mean in terms of taxation continues.
A key area to watch will be Capital Gains Tax (CGT). Perhaps surprisingly, the latest Budget outlined in March made little reference to it,
but we suspect it has not been forgotten.
In America, President Joe Biden is reportedly making moves to increase the CGT rate for those earning more than $1 million from 20 per cent