Lobbying of the Treasury in the run-up to chancellor Gordon Brown's pre-budget speech next month has...
Lobbying of the Treasury in the run-up to chancellor Gordon Brown's pre-budget speech next month has kicked off at the Association of Private Client Investment Managers and Stockbrokers (APCIMS) with a call to simplify the administration of stamp duty and CGT.
Both issues have been central to APCIMS lobbying in recent times, but the timing of such a move has never been better, the association argues.
Because of the current bear market for equities, stamp duty revenues will have fallen dramatically, while the large number of smaller investors who register capital gains of £10,000 or less per fiscal year only bring in £30m to the exchequer.
Removing the 80,000 CGT payers in this category and simplifying the paper work associated with stamp duty would remove a significant administrative burden from investors, while producing a negligible fall in general government revenues, the association says.
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