Capital gains tax: how it works, benefits and pitfalls of another hike

Increasing the rate of CGT is one of the tax levers available to chancellor as he considers revenue-raising options

Capital gains tax (CGT) has been widely cited as a possible revenue-raiser as the chancellor, John Healey, prepares to deliver a tough budget next month. How does it work, and what are the pros and cons of raising it further?

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