UK Treasury announces capital gains tax hikes on most assets
UK Chancellor of the Exchequer, Rishi Sunak, announced in his budget speech that the capital gains tax for most assets will increase from the lower rate of 10% to 18%, and for high earners the capital gains tax will increase from 20% to 24%. He also stated that this change in the system will raise £2.5 billion. The increase in capital gains tax will bring the tax rate for most assets in line with the tax rate for property. Capital gains tax is paid on profits from the sale of assets that exceed £3,000 ($3,896.70), and the tax rate depends on the amount of income tax people usually pay and the size of the gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Initial Listing] Bitget Will List Planck (PLANCK) in the Innovation, AI and DePIN Zone
Buy PLAI,Get 100% fee rebate in PLAI!
Bitget to support loan and margin functions for select assets in unified account
Bitget launches cross margin trading for BGB/USDT and BGB/USDC
