Changes to the capital gains tax overhaul announced in October have been put
off until next year, Alistair Darling said today.
The chancellor had originally said he would reveal the amended CGT rules
before Christmas, but he is still consulting on the issues and will now only
make an announcement in the New Year.
The CBI, which has vigourously opposed the CGT changes, expressed
disappointment at the delay.
‘People need to be able to make decisions about their businesses – whether to
invest, or whether to sell up. This uncertainty mustn’t be allowed to continue,’
said CBI director general Richard Lambert.
Darling’s October decision to abolish taper relief and replace it with a flat
18% CGT rate met with vitriolic opposition from business groups and
entrepreneurs, who said the move was ill-thought out and damaging to the
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states