CGT Concessions
Tectonic plates appear to be moving within the Treasury in response to pressure from employer and business organisations alike campaigning against the proposed changes to Capital Gains Tax (CGT).
It is far too early to comment on the outcome, but it has been suggested by various factions of the press that we will see a re-introduction of something akin to Retirement Relief which provided exemption for the first £250,000 to individuals aged over 55 and was abolished in the 1998 Finance Act.
It is also suggested that various new rollover and holdover reliefs could be introduced to encourage entrepreneurs, so taking the whole thing together we may well end up with a CGT regime which, for the business owner at least, is even more impenetrable than the system we have at present.
Roll on the Budget!!
It is far too early to comment on the outcome, but it has been suggested by various factions of the press that we will see a re-introduction of something akin to Retirement Relief which provided exemption for the first £250,000 to individuals aged over 55 and was abolished in the 1998 Finance Act.
It is also suggested that various new rollover and holdover reliefs could be introduced to encourage entrepreneurs, so taking the whole thing together we may well end up with a CGT regime which, for the business owner at least, is even more impenetrable than the system we have at present.
Roll on the Budget!!
Labels: Written by Mark Busby