Scottish specialist accounting, tax, and audit firm Wbg has advised shareholders planning on using business asset disposal relief (BADR) through a members voluntary liquidation (MVL) process to consider acting sooner rather than later.
The advice follows figures from the Office for National Statistics (ONS) showing that UK government borrowing hit a higher than expected £3.1 billion in July prompting speculation that Chancellor Rachel Reeves might raise capital gains tax (CGT) in her first budget on 30 October.
MVLs typically allow shareholders to take advantage of BADR, which reduces the rate of Capital Gains Tax (CGT) to 10% on distributions made to shareholders by the…
