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Budget analysis – Employee tax and pensions

Speed read

Speed Read: There were no headline-grabbing announcements but there were some things of note. The widely expected increase to CGT failed to materialise but anti-avoidance legislation combating the use of employee share incentives to deliver capital growth will be introduced. Various measures supporting the Government's commitment to cut greenhouse-gas emissions were announced in relation to company car benefits and there was a further increase in the rates of NICs. Clarification was given regarding the operation of the pension relief restriction. It was also announced that action will be taken against employee trusts used for avoidance — no details were given but this is one to watch.

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