Wealthy individuals are at risk of tax raid

Wealthy Brits are at risk of being slapped with higher taxes in the upcoming Autumn Budget as they fail to understand how to use their tax allowances.

The Treasury is scrambling to fill an estimated £20bn fiscal black hole in next week’s Budget and, with a wide spread of tax rises being discussed, many individuals are working to move their capital into tax-efficient wrappers and optimise their financial position.

However, among the UK’s wealthiest a serious knowledge gap persists, with significant numbers unaware of their tax relief and allowances.

According to research from investment platform Charles Stanley , nearly 50 per cent of high net worth (HNW) individuals revealed that they are unaware of what capital gains tax allowance.

The al

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