TaxCorporate TaxTreasury to slash business tax

Treasury to slash business tax

Budget plan to cut taxes paid by business in 'goody bag' of giveaways

The government is to unveil a ‘goody bag’ of business tax cuts.

The
Daily Mail
reported that during the last few months, ministers had talked to
business organisations about a package to soften the blow of a CGT increase from
10% to 18% levied on business assets held for more than two years.

The plans are set to go ahead despite the government’s partial climbdown on
CGT. The paper did not say what taxes the government intends to cut.

A Treasury source said: ‘It may be that we end up spending more than
planned.’

Further reading:

CGT relief for
entrepreneurs: instant reaction

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