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Autumn Budget 2017: Indexation allowance to be frozen

Autumn Budget 2017: Indexation allowance to be frozen

  • United Kingdom
  • Tax planning and consultancy - Budget

22-11-2017

The Government today announced that indexation allowance for corporation tax on capital gains will be frozen from 1 January 2018.

Indexation allowance is effectively a form of relief from capital gains tax for inflation. The effect of the change is that for disposals of assets by corporation tax payers on or after 1 January 2018, indexation allowance will be calculated using the Retail Price Index or factor for December 2017, irrespective of the date of the disposal.

This change will raise significant and increasing amounts of money for the Exchequer, with the Government estimating that it will raise £30m for 2017-18 rising to £525m for 2022-23.

Please view our dedicated Autumn Budget 2017 hub here. It will give you access to our watch list, our contributors and relevant articles and tweets.

www.eversheds-sutherland.com/autumnbudget

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