Darling’s CGT changes risk breaking EU law

Property investment adviser
Assetz warns chancellor
Alistair Darling’s capital gains tax changes will break European law if they
are introduced.

‘The chancellor does not seem to be concerned about announcing the details of
the changes just days before they would otherwise be implemented,’ Stuart Law,
Assetz chief executive, said. ‘However it is potentially illegal under European
law to make this change applicable without providing an acceptable notice period
for all those likely to be affected.’

He said that, forcing through the revised 18% tax from April this year did
not give sufficient time for business owners and property investors with
potential capital gains to get their affairs in order.

Law said this would leave the government open to a judicial review or
investigation by the European courts.

Further reading:

Three business leaders urge tax changes scrapped

How will it be for us, Darling?

the story in MoneyMarketing

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