Breaking news: CGT decision "in three weeks"

[DanMartin]

I've just left the CBI's annual conference where chancellor Alistair Darling revealed he will be making a decision following talks with business groups about his controversial capital gains tax reforms within the next three weeks. More details soon over on BusinessZone soon but if Gordon Brown's speech yesterday to the CBI where he defended the changes is anything to go by it may not be good news for entrepreneurs next month.

 

[webit]

.. But good news for those with more than one property ...

 

[RickBisset]

I wonder if they would have made that decision prior to a general election - had they had the guts to call one?

It almost seems like they are trying to get all of their unpopular decisions out of the way in time for a 6 month 'spin' campaign prior to the next gen elec.

How can they justify (almost) doubling a tax rate?!

 

[DanMartin]

I've published more details on Darling's speech here.

 

[KM-Tiger]

How can they justify (almost) doubling a tax rate?!

They cannot. It's just an ill thought out gimmick by an incompetent. And on top of the 16% increase in CT.

But Darling is just following his master. I don't recall McStalin ever justifying the increasing tax burden. For some reason the people of this country have lapped it all up, or perhaps just ignored it while they could still borrow against house price inflation.

 

[Alice3537]

They cannot. It's just an ill thought out gimmick by an incompetent. And on top of the 16% increase in CT.

But Darling is just following his master. I don't recall McStalin ever justifying the increasing tax burden. For some reason the people of this country have lapped it all up, or perhaps just ignored it while they could still borrow against house price inflation.

Sadly, the 'majority' of people in this country know s*** about the taxation of assets - and certainly don't take that into consideration when acquiring them.

Every time I re-read the proposed changes versus the current system, I fail to make the numbers add up in favour of the investor. I may well just have 'missed something' but I would need that to be explained in very simple terms as I just DON'T GET IT!!!