Evelyn Partners CEO Geddes warns of 'stifling' CGT change impact

Urges for caution on tax changes

Evelyn Partners CEO Paul Geddes has cautioned that capital gains tax hikes could have a “stifling” effect on entrepreneurialism and investment.

Geddes' words of warning come as the government faces a balancing act in the upcoming 30 October Autumn Budget as it looks to raise tens of billions to plug a public spending gap. A raft of tax and pensions changes are expected, including across inheritance tax (IHT), CGT, and on the pensions tax-free lump sum. In comments shared with PA, Geddes warned that CGT increases could put people off from setting up businesses in the UK and could spur an exodus, with some looking to head abroad. Government to target inheritance tax raises in Autumn Budget – reports Evelyn Partners survey...