CGT reforms to be announced next Thursday?

CGT reforms to be announced next Thursday?

Didn't find your answer?

This morning's Daily Telegraph says that the Chancellor is expected to "unveil" his reforms to MPs next Thursday.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/01/18/ncgt118.xml

Marcella Shone

Replies (3)

Please login or register to join the discussion.

avatar
By David160
19th Jan 2008 00:38

Are we going back a number of years?
I am surprised that the government is considering removing the link between income tax rates and capital gains. I seem to remember that a long time ago, the capital gains tax rate was less than the income tax rate. This resulted in people converting income into capital gains to take advantage of the lower tax rate (remember the toilet paper case and the Norman Wisdom case). So they invented indexation, to help with the, then, high inflation rates. But the capital gain was added to income, which meant that income tax rates were paid on capital gains. So there was less incentive to convert income into capital gains.

Prehaps in ten years time the government will reinvent indexation!!!!

Thanks (0)
avatar
By dan06
18th Jan 2008 13:05

Concessions on the cards?
What Darling will finally announce regarding CGT is what we're currently asking over on UK Business Forums, one of AccountingWEB's sister websites. Members have already put forward some interesting suggestions. Have your say here.

Dan Martin
Administrator, UK Business Forums

Thanks (0)
avatar
By User deleted
18th Jan 2008 12:08

about time ...
... anyone want to speculate on the changes?

Thanks (0)