CGT concessions unlikely, says accountancy firm

The proposed flat rate of CGT announced in the pre-Budget report last month has drawn criticism from offshore life companies because it favours unwrapped collective investments. The withdrawal of indexation and taper relief has also angered many onshore bodies as it is seen as penalising entrepreneurs and longer-term investors. But Grant Thornton has said major concessions in the tax system, particularly on capital gains tax, are unlikely as the Government is on course to overshoot its public borrowing forecasts by £6bn and needs every ounce of revenue it can lay its hands on to minimise o...