09 Jan 2008
Changes to capital gains tax rules have remained in the news since the chancellor announced changes in the pre-Budget report back in late 2007.
What is the Treasury's position, and how does business feel about the proposals? Will there be compromise or is the honeymoon over between Labour and UK plc?
Read the stories below to see how the drama is unfolding:
Brown claims Labour has cut CGT
Prime Minister says rate has come down while Labour has been in power
Darling defends CGT delays
Chancellor will take time on CGT concessions 'to get it right'
Trade minister first to break ranks over
Lord Jones, the trade minister, warns of ‘unintended consequences’ unless Darling offers CGT concessions
Government airs CGT concessions
The Government has floated the possibility of locking in the current 10% CGT on sale of firms until 2009
Business anger mounts as chancellor
Business frustration is mounting over chancellor’s delay in unveiling CGT changes
Darling postpones CGT reforms until New Year
Chancellor delays making final proposals on capital gains tax until 2008
Grant Thornton: concessions on CGT
Grant Thornton says UK govt will exceed its borrowing target by ₤6bn, making any concessions on CGT reform unlikely
Business 'more angry than ever before' over
CBI chief warns the government that business is still fuming over CGT changes and red tape
Insider Business Club: capital gains tax
Our experts discuss the impact of the government’s unexpected CGT changes on the business community
IoD: Govt should copy USA’s 15% flat rate
Alistair Darling should look to the US to set the new CGT rate, the Institute of Directors has suggested
CGT triggers 60% Miller sell-off plan
Treasury’s newly foreshadowed changes to the CGT are understood to be the trigger for a 60% sell off in Miller group
Lukewarm response to Darling’s CGT
Darling’s possible backflip on proposed CGT changes by way of a ₤100,000 tax relief softener has received a lukewarm response
Brown, Darling cave in over CGT
Brown and Darling are said to be close to bowing to business pressure to rethink proposed CGT changes, considering a ₤100,000 tax relief scheme
Business lobby fails to sway chancellor on
British employee lobby is optimistic after meeting with chancellor Darling yesterday but failed to get a u-turn on capital gains tax policy
Darling says CGT changes will ease
Chancellor tells MPs in House of Commons that changes will simplify process and lead to less work for accountants
Darling agrees to capital gains tax
Chancellor to hold crunch meeting with envoys from the Institute of Directors, CBI, The British Chambers of Commerce and the Federation of Small Businesses
Darling rebuffs business call for CGT
Chancellor is unmoved by mounting demand for rethink on CGT changes, insisting they are ‘the right thing to do’
Bipartisan stance against disliked CGT
The Conservatives have allied themselves with some Labour MPs in an effort to reverse Alistair Darling’s decision to raise capital gains tax
PBR 07: Mazars warns of unintended
The chancellor's CGT changes are just tax rises by another name, advisers from MacIntyre Hudson have said.
Employer groups join forces over CGT
UK’s four main business groups have joined forces in an open letter to the chancellor, urging him to suspend proposals to abolish capital gains tax taper relief
CBI delivers stinging attack on Darling over CGT
CBI calls CGT changes a 'blunt instrument' that could hit small business and the economy in general
Employee share schemes in CGT rate hike
1.7m face new flat rate set to be more than three times that currently paid by basic rate taxpayers
Advisers to suffer from CGT changes
Advisers will have to get their skates on to manage their clients' tax affairs in the wake of the impending changes to CGT
Darling considers private equity
Chancellor mulls increasing capital gains tax rates and lengthening taper relief period
Private equity player admits taxes too
A report in the Daily Telegraph quoted Taylor 'speaking independently' as saying tax rates could be higher without unduly harming investment
Raise revenue from CGT, says IoD
Business group suggests rethink of capital taxes
Avoidance schemes are rife among capital
The use of capital gains tax avoidance schemes is surprisingly widespread, according to a new survey by HM Revenue & Customs
Wealthy face capital gains crackdown
General anti-avoidance rule on the use of bogus capital losses to reduce capital gains tax bills is used to hit wealthy individuals as well as companies
Shell finally resolves CGT saga
Company agrees to give loan notes to small investors to avoid capital gains liaibility that arose through its restructuring
CGT rise predicted in PBR 2004
Businesses could face an increase in the capital gains tax rate when the chancellor reveals his pre-Budget report next week.
Changes to capital gains tax planned
The government has unveiled a consultation document aimed at introducing substantial reforms to corporate tax legislation in three areas, including the tax treatment of capital gains.
PBR 2001: chancellor cuts CGT taper
As expected the chancellor has announced that capital gains tax taper relief will be reduced to 20% after one year on the disposal of business assets, cut further to 10% after two years.
Scrap CGT on old assets, says IoD
The Institute of Directors has called on the government to scrap all taxation calculations on assets, which a company has owned for five years or more.
Proposals on CGT fail to impress tax
Inland Revenue officials are expected to come under fire at a special meeting with tax experts on Monday following the publication of capital gains tax proposals.
Guidance note released on capital gains tax
The Inland Revenue this week provided some additional information on taper relief for capital gains tax.
Government urged to freeze capital gains
Chancellor Gordon Brown is being urged to freeze Capital Gains Tax to allow successive annual changes to settle down.
Lowest-ever CGT rates to boost hi-tech
Small FTSE-350 companies may drop to AIM after Budget reform.
Taxation - Capital gains clampdown
The Inland Revenue's special compliance unit has ordered local tax offices to clamp down on several capital gains tax relief schemes
CGT proposal backlash
CIoT and English ICA attack government over its corporate tax consultation.
Budget 98 - Capital gains changes look long
New capital gains tax rules are simpler and will reduce avoidance, but according to tax experts not all entrepreneurs will benefit.
Ouch! I am retiring from my guest house. The capital is my pension. I should have around £300k - £200K for flat and £100k to live off interest - now what with these new cap gains? If the difference between buying and selling is £350K what can i allowably deduct before cap gains. help please Muriel
Posted by: Muriel Oruc, 11 Mar 2008 | 00:00
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