The Chancellor, Alistair Darling, is consulting with business leaders on refining capital gains tax proposals with an announcement on the final tax structure expected before the Budget in March.
The Treasury has today confirmed the Chancellor is liaising with business groups over how best to implement the simplification of capital gains tax (CGT). A report in today’s Times claimed the Chancellor was considering a £100,000 exemption for small business owners who were looking to sell-up and retire. IFAonline.co.uk has learned Darling is currently working with business groups, including the CBI, to ensure the CGT changes do not stifle enterprise and small businesses. A spokesman for the Treasury says: "As the Chancellor made clear last week to the Treasury Select Committee, a simpl...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
