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BPIF slams Darling’s capital gains concessionsstevenkiernan, 25 January 2008Be the first to comment on this article The BPIF has blasted the capital gains tax (CGT) reforms as “ill thought out and wishy-washy” and said the government’s U-turn offered “little or no excitement”.
A spokesman for the print industry trade association said: "While many of our smaller members can slip through the net, this is still an 80% hike in taxes for bigger fish who've accumulated profits over a lifetime of hard work. "Companies with £1m-plus profits, which isn't a fortune anymore, will still be seeking to sell their assets by 6 April." The government first proposed an 18% rate and the end of taper relief in last October's pre-Budget report. The Federation of Small Businesses (FSB), which had proposed a rate of 9% on the first £750,000 of gain, welcomed the news, but said the handling of the issue had "eroded small businesses' trust in the government". Speak Your Mind |
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