Freelance UK - News Sponsorship
	Freelance UK Money Club  Mortgages - Income Protection - Retirement Planning - Life Cover  No consultation fees, no pressure, just free, impartial advice from  specialist IFA FreelancerMoney.

Clarity on capital gains tax 'imminent'

Financial uncertainty for thousands of small businesses could finally end this week when the chancellor is expected to decide the future of capital gains tax.

Alistair Darling may use a Commons appearance on Thursday for questions on CGT to reveal the extent of his reforms, which he unveiled in October last year.

Since then, entrepreneurs and their advisors have cried foul of plans to increase CGT on the sale of businesses from 10 per cent to 18 per cent - in effect an 80 per cent rise.

Their protests forced whispers of a concession for retiring business owners , but no official word has come from the Treasury since the speculation, back in November.

Citing an unnamed source in the department, the Financial Times reported on Saturday that a decision on capital gains tax was just ‘days away.’

There was no substance to growing speculation that the chancellor would wait another year to carry out a longer consultation, the source reportedly added.

But one more consultation with the UK’s four major business groups to gauge their views on changes to capital gains tax is likely before any official announcements.

Jan 21, 2008
Email this article
Printer friendly page

Previous Page