Government floats CGT concessions
Date: Tuesday 18th December, 2007
Author: Barry Hallam
It is being reported by the Daily Telegraph that the Government is considering a number of options relating to concessions on the new capital gains tax regime. One of these seems to be the ability to "opt for a deemed sale" before 5 April 2008 to lock into the favourable business taper and indexation relief. Presumably this would be a way of crystallising a gain without resorting to such devices as trusts.
There is a deadline of 31 January 2009 mentioned and it would appear that this is to coincide with the filing date for 2007/2008 tax returns.
Keywords: 'Capital gains', 'Pre Budget', 'Taper', 'Darling'
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