British finance minister Rachel Reeves is considering raising the rate of capital gains tax to as high as 39% in her Oct. 30 budget, the Guardian newspaper reported on Thursday. Finance ministry modelling being reviewed by Reeves and seen by the Guardian shows officials are testing a range of 33% to 39% for capital gains tax,

Rachel Reeves could raise capital gains tax on sales of second homes and businesses to as high as 39% at this months budget, reports have suggested. The Chancellor is said to be considering the hike from the current rate of between 20% and 28% for higher-rate taxpayers.