PARLIAMENTARY WRITTEN QUESTION
Assets (22 October 2024)
Question Asked
To ask the Chancellor of the Exchequer, if she will make it her policy to ring-fence Business Asset Disposal Relief in the upcoming Budget.
Asked by:
Anna Dixon (Labour)
Asked by:
Anna Dixon (Labour)
Answer
At Autumn Budget, the government announced that it would maintain Business Asset Disposal Relief, with its £1 million lifetime limit. The Chancellor also announced that the Capital Gains Tax rate for Business Asset Disposal Relief will increase from 10% to 14% from 6 April 2025, and will increase again to match the lower main rate at 18% from 6 April 2026.
Answered by:
James Murray (Labour)
30 October 2024
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