IoD: Govt should copy USA’s 15% flat rate CGT
Alistair Darling should look to the US to set the new CGT rate, the Institute of Directors has suggested
The Institute of Directors
(IoD) is calling for a new flat rate of 15% for capital gains on all assets,
similar to the US but lower than France’s 16%.
‘We know in areas of encouraging enterprise the US has always been very
good,’ Miles Templeman, IoD director general of the, told
Telegraph.co.uk. ‘We should not be looking to Europe as the benchmark
on enterprise but to the US.’
IoD estimates reducing the rate from 18% to 15% would cost the Treasury
£900m, making the reform revenue neutral.
Treasury
officials are at present considering proposed amendments to the reform from IoD
and other employer organisations to make it more acceptable to the business
community.
Further reading:
IoD urges lowering of CGT
modifications
CGT bonanza ahead of rules changes
Read
the story in Telegraph.co.uk