Darling fails to offer CGT concession on investment bonds

The Association of British Insurers has been lobbying the Government to grant concessions for both offshore and onshore bonds, which are arguably worse affected as they have fewer non-tax related advantages than offshore bonds. However, despite Darling’s assurances that discussions were ongoing at the time of his climbdown on CGT for entrepreneurs, even the small print of the Budget report seems to hold no joy for the industry. Peter Vipond, the ABI’s director of taxation said: “The Government’s CGT proposals were made without consideration of the impact on consumers who hold investment bo...