Taper Relief: Capital Gains Tax CGT: Chancellor Stalls
Published / Last Updated on 16/01/2008
Taper relief on Capital Gains Tax is still in a mess after the Chancellor stalled on revisions.
Taper relief on capital gains tax proposed changes for April 2008.
Chancellor, Alistair Darling has said he needs more time to consider potential concessions on the treatment of taper relief for capital gains tax, following strenuous lobbying from groups such as the Confederation of British Industry (CBI), British Chambers of Commerce and the Federation of Small Businesses.
Our view
The current situation on taper relief leaves many small business and individuals unable to plan their tax affairs.
Anyone considering disposing of their business now has little idea of the taper relief tax implications if the sale completes after 5 April, 2008. Darling needs to get on with this decision urgently.
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