Chancellor faces renewed disparagement over CGT
14 December 2007 17:22
Chancellor Alistair Darling is facing fresh criticism over forthcoming proposals to amendments to the UK's capital gains tax (CGT) regime, it has emerged.
According to reports, opponents have criticised Mr Darling for a recently announced u-turn that contradicts an early promise to provide details of CGT concessions by Christmas.
The promise was made during a speech at the annual conference of the Confederation of British industry.
CGT is a tax applied to the proceeds resulting from the sale of an asset, such as stocks or property.
"I want to make sure we get these things right and that's what I intend to do," said Mr Darling.
"It's now not going to be possible to conclude that process until the new year," he added.
As a consequence of the change of stance, clarification is not thought likely until after the first week of January 2008.
According to reports, opponents have criticised Mr Darling for a recently announced u-turn that contradicts an early promise to provide details of CGT concessions by Christmas.
The promise was made during a speech at the annual conference of the Confederation of British industry.
CGT is a tax applied to the proceeds resulting from the sale of an asset, such as stocks or property.
"I want to make sure we get these things right and that's what I intend to do," said Mr Darling.
"It's now not going to be possible to conclude that process until the new year," he added.
As a consequence of the change of stance, clarification is not thought likely until after the first week of January 2008.
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