Swinton set aside £100m for its acquisition team
Swinton has set aside a £100m for its acquisition team, headed by Hazel Walker, to fast track purchases and help brokers benefit from the current rules.
Swinton has made this move as it is anticipating acquisition activity to increase in the coming months as brokers rush to sell their businesses ahead of the capital gains tax reforms which come into force on April 6 2008.
Generally, business owners and shareholders selling business assets before the end of the current tax year, on or before 5 April 2008, will pay tax on any profit made at a rate of 10%, rising to 18% for disposals on or after 6 April 2008, an 80% increase in tax.
During 2007
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