Investors likely to be encouraged as CGT and Business Asset Disposal Relief remain unchanged

KPMG Partner Jonathan Boyers comments on the Budget

KPMG Partner Jonathan Boyers comments on the Budget

Commenting on the announcements from today’s Autumn Budget, Jonathan Boyers, Head of Corporate Finance at KPMG UK, said:

“With no major changes to Capital Gains Tax or the Business Asset Disposal Relief scheme in today’s Budget, there’s a real sense of déjà vu following speculations of a rate rise earlier this year. The ‘no change’ signal from the Chancellor will be particularly welcome news for those business owners who were already contemplating an exit. For buyers, the green light is still on as they’ll be keeping one eye on stock market volatility and the other on high quality businesses and strong management teams. 

“It’s a no brainer that the gap in public finances needs plugging, however timing is of the essence, as arguably the UK’s economic recovery and being fit for the future is equally as important, and if that’s the case, then remaining attractive to investors and encouraging growth through strategies like M&A is just as critical.”

 

 -ENDS-

 

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For further information please contact:

Jo Chileshe

M: 07919 211 803

Jo.chileshe@kpmg.co.uk

KPMG Media Relations

Tel:  +44 (0) 207 694 8773

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff. The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020.

KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.