Flurry of broker buys completed before CGT hikes come into play
A raft of broker acquisitions were completed before the rise in Capital Gains Tax (CGT) came into force.
As part of the coalition Government's emergency Budget announcement on 22 June, Chancellor George Osborne revealed that CGT would rise by 10% to 28% for higher rate taxpayers from midnight that day. However, this was lower than the rise to 40% or 50% that some industry commentators had predicted.
Throughout the previous month, there was a flurry of activity including acquisitions by Cullum Capital Ventures (CCV), Bluefin and four buys by Invicta Insurance Services.
On 3 June, Bridle Insurance
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