BusinessCompany NewsTories to abolish tax on shares

Tories to abolish tax on shares

Senior figures support proposal contained in Tory commission's report

The
Tory party is to scrap stamp duty on share transactions, The Telegraph says
today.

The
move,
identified by the Conservatives’ Forsyth Commission as one of a package of tax
cuts worth £19bn,
is said to be backed by senior Tory figures.

The paper quotes authoritative sources saying
shadow chancellor George Osborne
is ‘very keen’ on the proposal.

Studies have suggested the move, which would remove the taxes paid every time
a share is bought and sold, would boost the FTSE All-share index by £150bn.

Further reading:

Tories move closer to
formally proposing tax cuts

Read Tax Hack’s views on breaking tax
issues

Find out about UK tax rates
and allowances at the HMRC website

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