Tax experts slam CGT taper relief plan

The Institute for Fiscal Studies (IFS) said plans to taper the rate from profits on shares, second homes and other assets according to how long they have been held - a key concession to head off a revolt by Tory MPs - is "misguided". "Taper relief is a dreadful idea," IFS senior research economist Stuart Adam told the Financial Times. "It is highly undesirable in terms of its economic effects. "Persuading people to hold on to assets they would otherwise sell, to get a lower tax rate, is a misguided thing to do." The IFS also warned the coalition's proposed exemption of business as...