TaxCorporate TaxEmployers bodies unconvinced by CGT relief

Employers bodies unconvinced by CGT relief

Business powerhouses will gain nothing from CGT changes, while the government's policy towards taxing business sends out the wrong signals, say employer reps

The CGT relief for entrepreneurs will do nothing to help the business
‘powerhouses’ of the country, said the CBI.
Employers’ bodies reacted coolly to yesterday’s announcement that gains for
entrepreneurs would be taxed at 10% for the first million pounds they make.

CBI director general Richard Lambert said changes to CGT rules were still a tax
hike and would damage the economy.
Martin Temple, chairman of manufacturing body EEF, said the relief was a helpful
concession but its tax policy ‘sent out all the wrong signals’ about its
attitude to business.
The ABI said it would push for the creation of a level playing field for CGT on
investment products such as unit trusts and investment bonds.

Further reading:

Darling offers ‘entrepreneurs’ CGT
olive branch

CGT relief for entrepreneurs:
instant reaction

Related Articles

HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

2d Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

1w Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

3m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

3m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

3m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

4m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

4m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

4m Austin Clark, Reporter