TaxCorporate TaxPrivate equity sector calls for CGT exemption

Private equity sector calls for CGT exemption

After CGT rise announced, venture capitalists say they will be "actively engaging with ministers to urge them not to make hasty decisions in this complicated area"

The private equity industry is to pressure the government for an exemption to
the proposed rise of capital gains tax on non-business assets.

Representatives at the British Private Equity & Venture Capital
Association warned against taxing rises in the sector’s non-business assets as
capital gains.

Simon Walker, chief executive of the BVCA
said
in a statement on the body’s website
:

“The BVCA would caution against the assumption that any increase in CGT would
produce enhanced revenues that could be used to reduce taxation elsewhere…..

“The BVCA will, therefore, be actively engaging with ministers to urge them
not to make hasty decisions in this complicated area.”

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