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Where Taxpayers and Advisers Meet

CGT timing query

blueboys
Posts:1
Joined:Thu Aug 29, 2024 10:27 am
CGT timing query

Postby blueboys » Thu Aug 29, 2024 10:30 am

Hi,

About a year ago I sold my software system IP to a company.

The CGT for this (20%) is due to be paid in my personal tax return this coming January.

Rumours are, the Labour government will change/increase CGT in the October budget, probably taking effect immediately.

Will I still only pay the 20%, as the tax level should be per date of disposal of the IP?

Thanks!

pawncob
Posts:5154
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: CGT timing query

Postby pawncob » Sun Sep 01, 2024 8:35 pm

There would be riots in the street if they made the legislation retrospective.
Any changes will be for next tax year( we hope).
With a pinch of salt take what I say, but don't exceed your RDA


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