It had already been announced that the CGT annual exempt amount would increase to £11,000 for 2014/15 and £11,100 for 2015/16. With a top CGT rate of 28% this allowance potentially saves just over £3,000 a year, or £6,000 for a married couple.
There has been no change in the inheritance tax nil rate band which remains at £325,000 until 2018.
If you have any queries please contact Sue Stephens or John Elliott.
For the full 2014 Budget Summary please click this link BWM 2014 Budget Report
