TaxPersonal TaxCBI applauds double tax relief delay

CBI applauds double tax relief delay

The Confederation of British Industry has welcomed the Treasury decision to delay laws on taxation for multinational companies.

It also welcomed the announcement that the government is to consult on rollover relief for gains on the disposal of substantial shareholdings held by companies and on tax relief for the costs of purchasing goodwill and other intangibles.

Digby Jones, CBI director general, said: ‘I’m relieved that the Treasury has listened to business by delaying the implementation of the tax changes to double tax relief and now intends to discuss the impact of the whole package together.’

A working group of CBI members is poised to consider all the changes and aims to discuss them with the Treasury.

‘In particular, we must ensure that the package of measures is revenue neutral and that the UK remains as attractive a tax environment as possible for international business,’ Jones added.

The changes are set to be debated in the Finance Bill Standing Committee with other representations on the Bill which continue to be made.

Government delays double tax crackdown for nine months

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