Government publishes corporate tax system proposals

Professional Adviser
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The government published a consultation paper last week outlining its strategy for modernising ...

The government published a consultation paper last week outlining its strategy for modernising the corporate tax system. The paper includes a proposition for the exemption of capital gains arising on the disposal of companies' substantial shareholdings. The Chancellor of the Exchequer Gordon Brown said: "In 1997, we started the process of reform of the corporate tax system. The consultation launched today focuses on the next stage of these reforms with a new relief for corporate capital gains to facilitate the process of restructuring and reinvestment, helping business to take advanta...

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