IMA wants CGT flat rate green light

Chancellor Alistair Darling last week announced in the pre-Budget report that CGT, currently variable on circumstance, should be a flat rate of 18%. Although some critics say the proposals have virtually sealed the fate of many small to medium-sized firms, the IMA says savers can only benefit. Richard Saunders, IMA chief executive, says: “These reforms are good news for smaller savers. “The present CGT rules, with different rates according to your marginal income tax rate, and how long you have held assets, are hopelessly confusing for ordinary investors. “With a single rate at a modest...