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Govt's NI hike to impact valuations in adviser M&A deals

Helen Relf, head of transaction tax at RSM, said another consideration was possible changes to Capital Gains Tax in the upcoming budget, which may impact the net proceeds that a seller receives. 

This year's Autumn Budget, which will be delivered on October 27, could feature changes to CGT after widely expected reforms did not materialise in the March Budget. 

Last year the chancellor commissioned a review into CGT by the government's Office for Tax Simplification, saying he was particularly interested in how the levy interacted with taxes on income.

david.thorpe@ft.com