Private equity body calls members to action on CGT rise
Venture capital trade organisation warns capital gains rise could harm the economy
Venture capital trade organisation warns capital gains rise could harm the economy
The British Venture Capital Association has told its members to pile pressure
on their MPs to oppose a rise in capital gains tax in this month’s Budget.
The leading private equity trade body wrote to its 220 members, arguing that
any rise in CGT would “jeopardise our ability to attract investment and brow our
business”, reports the
Telegraph.
It also supplied members with a template letter to send to MPs voicing their
opposition to any rise in the tax.
It is anticipated that CGT rates could rise from the current level of 18% to
something closer to income tax. The BCVA argued that “an exemption for business
assets — as was present in the former taper relief legislation — is what is
needed rather than simply maintaining or extending entrepreneurs’ relief”.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe amount of tax saved by businesses through HMRC’s Patent Box scheme has increased by 23% over the last five years, from £1.14 billion in 2017/18 to...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleThe legislation, which introduces a global minimum tax of at least 15% for multinational enterprises, aims to limit tax competition and ensure large c...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleAccountants must stay vigilant, adapt their tax strategies to evolving regulations, prioritize transparency, and foster collaboration with tax authori...
View articleAs the government prepares for re-election, PM Sunak promises to control spending in order to bring forth tax cuts next year Read More...
View articleThe Office for National Statistics revealed that the UK economy shrank by 0.3% in March after the economy grew by 0.1% in the previous three months Re...
View articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View article