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%.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...