TaxPersonal TaxEmployees set to lose CGT relief on shares

Employees set to lose CGT relief on shares

Employee shareholders at large joint venture companies could lose out on the capital gains tax relief announced as part of the Budget, according to Heather Self chairman of the Chartered Institute of Taxation technical committee.

Under the changes, employees holding shares in the companies for which they work, are able to claim generous tax relief by classing them as business assets.

But according to a report in yesterday’s Times newspaper, the extension of taper relief could only apply to employees of trading companies.

The CIOT is hoping the government will table an amendment to the Finance Bill before the Common’s debate on 6 June.

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