Even with CGT reforms, will M&A deals continue to soar in Q4?

Sunak needs to consider spending cuts

Soon, Chancellor Rishi Sunak will deliver the 2021 autumn Budget. It will be a pivotal announcement, offering insights into how the government plans to address accruing public debt while also offering the transitionary support the private sector needs after Covid-19 support measures cease.

Chancellor Sunak's response to the pandemic has been generally well received. However, his ambition to review and simplify the UK's existing tax has been delayed. One proposed change on the chopping block is the corporate gains tax (CGT), the tax to be paid on profits made from selling assets. In the summer of 2020, the Chancellor ordered a review of CGT by the Office of Tax Simplification. The proposals from the review included aligning CGT more closely to income tax rates and reducing the CGT allowance to under £4,000 from £12,300. It was anticipated the proposal would be included in t...