Businesses in rush to sell before new CGT rates take effect
Business owners are inundating HM Revenue & Customs (HMRC) with clearance applications for business disposals before the Capital Gains Tax (CGT) rate increases on 6 April.
That's according to business advisory firm Grant Thornton, who has said the rush is due to business owners wanting to sell up before the CGT rate increases from 10% to 18%.
Accountants are warning businesses which do not receive clearance from HRMC before selling that there is no guarantee they will be able to sell at the lower rate, as reported in The Times.
