Brexit & EconomyPoliticsSplits in business ranks over CGT proposals

Splits in business ranks over CGT proposals

Splits are appearing among leading business groups in their demands to Treasury over chancellor Darling's changes of the capital gains tax

Splits have appeared among leading business groups in their fight against
chancellor Alistair Darling’s capital gains tax (CGT) changes as the
Institute
of Directors
(IoD) lobbied Treasury officials this week separately from
other members of the alliance with its own proposed amendments, said to include
a compromise 16% rate.

Miles Templeman, director general of the Institute of Directors, told The
Business magazine that, although there was merit in the trade bodies maintaining
a united front, IoD would submit its proposals independently.

The
CBI
and the British Chambers of Commerce are preparing separate submissions, which
they plan to present by the end of the month, while the Federation of Small
Businesses does not expect to reveal its proposals to the Treasury until late
December.

The Treasury is understood to be surprised by the approach after the
chancellor had given the trade bodies the option of submitting their plans
together.

Further reading:

Read
The Business story

Lukewarm response to Darling’s CGT backflip

Related Articles

HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

Big Four HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

10h Alia Shoaib, Reporter
Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

Budget Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

1m Emma Smith, Managing Editor
Spring Statement live feed

Budget Spring Statement live feed

1m Emma Smith, Managing Editor
Spring Statement 2018: 5 things to look out for

Brexit & Economy Spring Statement 2018: 5 things to look out for

1m Alia Shoaib, Reporter
Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

Politics Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

3m Emma Smith, Managing Editor
David Davis, Secretary of State for Exiting the European Union

Brexit & Economy David Davis, Secretary of State for Exiting the European Union

3m Alia Shoaib, Reporter
Philip Hammond, Chancellor of the Exchequer

Brexit & Economy Philip Hammond, Chancellor of the Exchequer

3m Alia Shoaib, Reporter
Elizabeth Truss, Chief Secretary to the Treasury

Brexit & Economy Elizabeth Truss, Chief Secretary to the Treasury

3m Alia Shoaib, Reporter