Application of Capital Gains Taxes Tweaked in UK Budget

The UK announced changes Wednesday to how it will apply capital gains tax to employee ownership trusts and non-residents as part of its 2025 budget.

Relief from capital gains tax on disposals into employee ownership trusts will go from 100% of the gain to 50%, one of several ways the government is seeking to tweak policies that disproportionately benefit the wealthy and high-earners, His Majesty’s Treasury said in its 2025 Budget.

Employee ownership trusts hold businesses in trust on behalf of employees.

Treasury said it was removing the relief because the measure was projected to cost £2 billion ($2.6 ...