After much delay, speculation and false promises, all which have caused
widespread uncertainty and anxiety throughout the business community
and its advisor base, the Chancellor has finally confirmed where we are
with the proposed reform to CGT. From April, 18% will apply to all
gains other than gains of up to £1m, which will be taxed at 10%.
This small olive branch now on offer is an attempt to appease an
outraged business community but will do little to undo the damage
already caused in the last three plus months and this Government's
commitment to enterprise remains in some doubt.
PR.121 - 25 January 2008