Tory rebels have refused to toe the party line and criticised the proposed
gains tax announced by the coalition government.
John Redwood said two dozen MPs and peers were against the Lib-Cons’ raid on
non-business assets, which would see the level of CGT rise from 18% to possibly
40% or 50%.
With the emergency budget coming up on 22 June, the group has already drawn
up an alternative plan to the CGT hikes.
Redwood who is the chairman of the Conservatives Economic Competitiveness
Policy Group told the
Telegraph: “If we put up CGT on enterprise, business and investment, it will
deter talent, send people abroad, put off new people with businesses coming
here, help rich accountants and lawyers with schemes to avoid it.”
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