Tax

By Paul Watts-Barnes Recent coverage has reignited the “will higher Capital Gains Tax (CGT) stop people selling?” debate — including commentary on HMRC figures showing CGT receipts falling (reported as down 8.4% to around £13.6bn in 2025) as investors delay disposals. At No.20 Berkeley Square, our view is simple: tax matters — but it shouldn’t be the tail that wags the dog. Great businesses still change hands for the same reasons they always have: strategy, succession, market