Julia Cox, Mary Perham and Bronwen Bernstein write in Wealth Briefing about potential CGT changes in the UK Autumn Budget

Speculation about capital gains tax reform ahead of the UK's Autumn Budget is creating uncertainty for individuals with significant unrealised gains. Possible measures include higher CGT rates, closer alignment with income tax rates and restrictions on the CGT uplift applying on death.

Other potential reforms include changes to Business Asset Disposal Relief and the removal or restriction of existing exemptions. Although the proposals remain speculative, changes could take effect from Budget day rather than the start of the next tax year, limiting the opportunity for advance planning.

Taxpayers may therefore wish to review disposals, trusts, spousal transfers and tax-efficient wrappers; although it is important to consider the wider financial and commercial consequences of acting before policy details are officially announced.

Julia Cox and Mary Perham, Partners, and Bronwen Bernstein, Trainee Solicitor, from our Private Client team, write in Wealth Briefing:

Any change would usually take effect from the new tax year, 6 April 2027, but changes applying from the day of the Budget are not unprecedented. An immediate change in the tax regime would leave no opportunity for individuals to plan ahead, so those owning assets subject to significant capital gains may wish to consider how to minimise their CGT exposure now.

At this stage, potential tax changes remain speculative, and tax-planning decisions usually carry significant financial implications of their own.

Read the full article in Wealth Briefing here.