Chamber reaction to Capital Gains Tax reform

Date published: 26/01/2008

Commenting on the Chancellor’s announcement on Capital Gains Tax reform, Ilona Krohn, Principal Economic Adviser at Greater Manchester Chamber, said: "We appreciate that the Chancellor has taken on board the concerns voiced by business organisations such as the Chamber about his reform of Capital Gains Tax.

"The original proposals would have hit those small business owners planning to sell their businesses for retirement, made it more difficult for start-ups and growing businesses to attract development capital and made employee share ownership schemes less attractive.

"We welcome both the simplification of the tax system and the fact that these new proposals will go a long way to addressing the small business community’s concerns."