The Chancellor has described a £22 billion black hole, prompting expectations of significant changes in the Autumn Budget, especially regarding Capital Gains Tax rates.
The Labour Government has promised not to increase taxes on "working people", leaving areas like Capital Gains Tax, Inheritance Tax and Stamp Duty Land Tax as viable options.
With residential Capital Gains Tax currently at 24%, there is pressure for transactions before the Budget, as experts predict a potential increase to 30%.
Should changes occur, there is hope for a transition period, aiming for implementation from 5th April 2025.
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