R E L A T E D   C O N T E N T
ADVERTISEMENT

Employer groups join forces over CGT

AccountancyAge.com, Accountancy Age, 16 Oct 2007

UK’s four main business groups have joined forces in an open letter to the chancellor, urging him to suspend proposals to abolish capital gains tax taper relief

The heads of the British Chambers of Commerce, CBI, Federation of Small Businesses and Institute of Directors say the impact of chancellor Alistair Darling’s decision to abolish capital gains tax taper relief ‘will be felt throughout the economy’ by ‘discouraging longer-term investment and risk-taking’.

‘Owners of small enterprises…are now faced with selling up before April or facing a substantial dent to their investment,’ the letter said. ‘The 1.7 million ordinary employees who are in company share schemes could also face an 80% increase in their tax bill and a serious disincentive to taking up and retaining share options in the future. Business angels and venture capital funds say they too will be discouraged from taking risk and investing for the long game.'

Their letter to Darling follows an open letter by Richard Lambert, CBI director-general, last week, attacking the proposal for putting hundreds of thousands of small businesses at risk.

The business groups plan to meet the chancellor to understand why he made his surprise decision and work with him to resolve the issue.

Further reading:
CBI delivers stinging attack on Darling over CGT
Business counts cost as Darling hijacks Tory ideas

Tags:

ADVERTISEMENT
M A R K E T P L A C E
Sponsored links
| AC Selection
An experienced Credit Controller is required for a hands-on role based in Leominster. The successful candidate will have excellent experience in this area of accounts, along with good experience with complex reconciliation work. This is ... more >
| AC Selection
Overseeing the ledger function while taking responsibility for the accounts to trial balance. Duties to include supervision of purchase ledger, foreign payments, sales ledger, cashflow, general ledger, VAT, Intrastat and reporting. You will need excellent ... more >
| AC Selection
Due to expansion, an experienced Management Accounts Assistant with costing experience is required for a progressive role based in Redditch. Sage Line 50 is preferred but not essential, as full training will be given. The ... more >
| AC Selection
An experienced Payroll/Accounts Assistant is required for a busy and varied role based in Lye, near Stourbridge. The successful candidate will have excellent organisational skills, whilst being extremely accurate and methodical, as high levels of ... more >
More Jobs in Finance
ADVERTISEMENT
Job zone
Job of the week
Related jobs
Search for a job
 
> More Financial Director jobs
ADVERTISEMENT