Louise Somerset, tax director of RBC Wealth Management, reveals the big disappoitments hidden away in the details of George Osborne’s first Budget. Among those who will be most disappointed are staff in employee sharesave schemes, who had hoped that any capital gains they made on buying shares in their own company would be taxed at a lower rate.
Other hoped-for measures which never materialised were: a halt to the planned rise in employees’ National Insurance contributions, a lifting of the nil-rate band for Inheritance tax from its current level of £325,000 and a boost to the incentives for investing in Venture Capital Trusts and Enterprise Investment Schemes.
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