TaxAdministrationBusiness anger mounts as chancellor delays

Business anger mounts as chancellor delays

Business frustration is mounting over chancellor’s delay in unveiling CGT changes

Miles Templeman,
Institute
of Directors
(IoD) director general, said chancellor Alistair Darling’s
decision to delay his announcement on the proposed changes of the Capital Gains
Tax (CGT) until the new year would lead to continued uncertainty at a time when
business owners needed to take critical decisions.

‘The government’s pro-enterprise credentials were seriously damaged by the
original announcement in the pre-budget report,’ he said.

‘The Government should recognise the impact of this by considering deferring
implementation of the changes, and commit now to a firm date on which its final
decision will be announced.’

Richard Lambert,
Confederation
of Business Industry
(CBI) director-general, said CBI was disappointed at
the delay but the chancellor needed to get on with this decision urgently, ‘as
he promised at the CBI’s conference a fortnight ago’.

Further reading:

Darling postpones CGT reforms until New Year

Tax the biggest concern for SMEs

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