TaxAdministrationDarling slammed over CGT indecision

Darling slammed over CGT indecision

Chancellor Alistair Darling has come under heavy criticism for his dithering over CGT

Chancellor Alistair Darling came under heavy criticism yesterday by Richard
Lambert, head of CBI, who
said the ‘complete confusion’ caused by his handling of the Capital Gains Tax
(CGT) reforms was causing ‘enormous damage’ to the reputation of the Government.

‘Nobody has a clue what’s going on and the problem is that this is a major
part of the tax code, has a big effect on people’s lives and the clock is
ticking because by April 6 people are going to have to make major decisions
about whether they think they are going to pay more tax or not,’ he said.

The prolonged delay in announcing a revised scheme has led to speculation the
CGT reform might be delayed by a year, according to the Financial
Times
, something the
Treasury
denies that outright.

Government insiders say they do not expect a decision this week, while
leaving open the possibility it could come next week after Mr Brown returns from
a visit to Asia.

Further reading:

Small business in final CGT plea

Legal & General boss urges CGT clarification

Read
the story in Financial Times

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