BusinessCompany NewsChancellor set to soften CGT blow

Chancellor set to soften CGT blow

The chancellor is expected to heed criticism and announce changes this week to the reforms of capital gains tax revealed in October’s pre-Budget report.

However, according to reports, he is not expected to restore the taper relief
system or a lower tax rate on business assets.

According to The Sunday Times Darling Alistair Darling is
likely to soften the blow from the changes by introducing new reliefs, including
a retirement relief targeting owner-managers wanting to sell up for retirement.

A reinvestment relief has also been considered by the Treasury to make it
easier for entrepreneurs to sell assets for investment in another business.

Darling has been under considerable pressure since the pre-Budget report, his
first as chancellor, in which he announced that taper relief would be scrapped
in April and that CGT on business assets would rise from 10% to 18%.

More stories:

FSB
submits broad CGT taper relief scheme

CBI
warns Darling of tax ‘rage’ over CGT

Gordon
Brown defends CGT decisions

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor