CGT warning

Posted on 17 Jan 2014
Share Blog Post
Think-tank warns Chancellor over CGT increase The Centre for Policy Studies has urged the Treasury to ignore proposals that call for an increase in capital gains tax. The think-tank issued the warning to Chancellor Rishi Sunak after the Office for Tax Simplification suggested that doubling rates and reducing exemptions could raise around £14bn. Centre for Policy Studies tax expert Tom Clougherty has questioned the proposals, saying: “Fully aligning CGT with income tax would be a big mistake.” He added: “Doubling the tax paid on capital gains would deter investment, punish saving, and leave us with a very uncompetitive system internationally.” Mr Clougherty said minsters should look to simplify the tax system but added that the Government “needs to make sure it also supports entrepreneurs, savers, and economic growth.”

View more blog posts

Tax system too complex
Posted on 12 Feb 2025
Tax system too complex
read more
UK stifles entrepreneurs
Posted on 05 Feb 2025
UK stifles entrepreneurs
read more
SME confidence plunges
Posted on 28 Jan 2025
SME confidence plunges
read more
Plea to cut taxes
Posted on 22 Jan 2025
Plea to cut taxes
read more
Back To Top
01604 660661