 Tax |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
On the eve of what is sure to be Alistair Darling's most important political statement there is speculation and counter speculation about how he will address the situation of the UK economy next...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
|
Loans for bad credit
Getting loans with a bad credit status can be difficult. However All About Loans are specialist in helping people with bad credit histories.
|
|
|
|
|
|
Monday 28th January 2008
The Chancellor of the exchequer has confirmed the previously proposed changes to the capital gains tax (CGT) system will go ahead.
Alistair Darling said that the top CGT rate of 40 per cent and taper relief will be replaced with an 18 per cent flat rate.
Around 80,000 people will be eligible to benefit under the new rules, at a cost of £200m annually, Mr Darling claimed.
A new "entrepreneur's relief" will also be included, under which only ten per cent tax will be payable per £1 million capital gains.
This reflects recommendations made by the Federation of Small Businesses (FSB), which proposed a nine per cent rate for gains of up to £750,000.
FSB chair John Wright welcomed the chancellor's announcement.
"The chancellor said specifically today that he wanted to help small businesses facing big tax rises from April and that is very good news indeed," he said.
The CGT reform is seen as an attempt by the government to control rich businessmen using taper relief to reduce the amount of tax they pay.
|
→ Full Tax News Archive
→ Return to Homepage
|
|
|
|
| Other top stories in this section:
|
|
|
|
