At least 80,000 people will be negatively affected by the government’s
changes to capital gains tax, employee share ownership experts IFS ProShare have
At the EEF Manufacturers biennial dinner last night, the chancellor said the
last minute CGT concessions he made in January, giving entrepreneurs a 10% tax
rate on the first £1m of gains, would benefit 80,000 people over the next year.
ProShare, however, says that as many people will be hurt by the reforms.
The organisation says the current CGT regime sees basic rate taxpayers who
have held shares in their employer for at least 2 years subject to a 5% CGT
The chancellor’s changes mean that these employee shareholders will have to
pay an additional 13% tax on any gain above £9,200 from April 2008.
‘It’s rather a sad irony that the number of people Alistair Darling says will
benefit from his concessions are the same number as those who could lose out,’
said IFS ProShare’s head of public affairs Phil Hall.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy