Darling to unveil CGT concession
Lower rate mooted for the first £750,000 of gains
The chancellor Alistair Darling is likely to offer a lower rate of
gains tax (CGT) today for the first £750,000 of gains.
Various reports suggested the chancellor would announce the move today.
The Federation of Small Businesses has campaigned for a special rate of 9% on
the first £750,000 worth of gains over a lifetime, and Darling’s special rate is
expected to be close to this.
A decision to tax the first £750,000 of gains made by entrepreneurs or
investors at a low rate of 9% or 10% might alienate big business, some have
suggested, although it will certainly mollify many of the small business critics
of the new regime, who have been the most vocal.