RSS feedsChanges to the capital gains tax overhaul announced in October have been put off until next year, Alistair Darling said today.
The chancellor had originally said he would reveal the amended CGT rules before Christmas, but he is still consulting on the issues and will now only make an announcement in the New Year.
The CBI, which has vigourously opposed the CGT changes, expressed disappointment at the delay.
'People need to be able to make decisions about their businesses - whether to invest, or whether to sell up. This uncertainty mustn't be allowed to continue,' said CBI director general Richard Lambert.
Darling's October decision to abolish taper relief and replace it with a flat 18% CGT rate met with vitriolic opposition from business groups and entrepreneurs, who said the move was ill-thought out and damaging to the economy.
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