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'You have never had it so good'

Newspapers, television and radio are filled with doom and gloom talking about the current economic situation.  They predict tax rises and they are probably right.

We already know that VAT is due to revert back to 17.5% but, using my crystal ball, the tax that I believe will increase in the future is Capital Gains Tax.

The current rate is only 18% and this compares with an income tax rate that will soon increase to 50% for high earners.

The annual exempt amount is £10,100 (your tax-free allowance) compared with £6,475 for income.

I would never advise anyone to sell something purely for tax reasons but I do think that, as far as Capital Gains tax is concerned, we have never had it so good.

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