Investors are rushing to sell shares and property ahead of the Budget on March 24, in the apparently misguided belief that Alistair Darling is about to raise capital gains tax rates.
By realising large gains before next Wednesday's Budget, taxpayers are hoping to lock in the current 18 per cent capital gains tax rate and ensure they will not be hit by any rise.
But the chancellor is thought to have rejected raising the tax now, fearing it could provoke a backlash from the business community and undermine his central Budget claim to be supporting jobs.
For the full FT report click here.
But for more analysis on what we could see in the upcoming Budget see my earlier posts:
Budget predictions - part 2 and Top 10 Budget 2010 predictions (part 1)
£200 Pension Cashback Offer
Make a qualifying deposit or transfer a pension to our partner Interactive Investor.
- Deposit or transfer a pension of at least £20k and you could earn £200 cashback
- Terms and Fees apply, Capital at risk
- New & Existing customers opening a SIPP
- Offer ends 30th June 2026
Before starting your transfer, check you won't lose any valuable benefits (such as guaranteed annuity rates or a lower protected pension age) and find out what exit fees you might have to pay
