TaxAdministrationIoD: Govt should copy USA’s 15% flat rate CGT

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

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

3d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

3w Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

3m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

1y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

1y Fraser Simpson, Reporter