It is highly possible that the Autumn Budget 2024 will bring increased CGT rates and/or the restriction or withdrawal of some CGT reliefs. Practitioners should therefore aim to get commercially-driven sale transactions completed before 30 October 2024. Sensible succession planning should also be accelerated while various reliefs remain certain. In the right circumstances, a rescindable contract might be effective in triggering CGT at pre-30 October 2024 rates. However, note the health risk: any non-commercial or artificial techniques designed to benefit from the existing CGT rates or reliefs are particularly vulnerable to any anti-forestalling provisions.
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It is highly possible that the Autumn Budget 2024 will bring increased CGT rates and/or the restriction or withdrawal of some CGT reliefs. Practitioners should therefore aim to get commercially-driven sale transactions completed before 30 October 2024. Sensible succession planning should also be accelerated while various reliefs remain certain. In the right circumstances, a rescindable contract might be effective in triggering CGT at pre-30 October 2024 rates. However, note the health risk: any non-commercial or artificial techniques designed to benefit from the existing CGT rates or reliefs are particularly vulnerable to any anti-forestalling provisions.
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