There are some new developments on the 18% CGT rate.....


The government has announced changes to capital gains tax (CGT), confirming that it will set a single 18% rate and cease taper relief from 1 April.
But Chancellor Alistair Darling also said there would be a 10% rate on gains of up to £1m, to help entrepreneurs.
Some industry groups and small firms have broadly welcomed the lower rate, after fears that the flat-rate plan would act as a brake on new businesses.

The chancellor first announced changes to CGT in October's pre-Budget report.

"I am today announcing the introduction of a new capital gains tax entrepreneurs' relief," said Mr Darling, as he announced the statement in Parliament.


So, I presume this comes into effect for the tax on profits for property sales....good news for the property investor...
Chris.

by the way, the article was on the BBC web site....

Is that only if you're buying through a business?
Personal CGT for an extra property would still be taxed at 18% ?