Downing Street Says » Capital Gains Tax

» Thursday, January 24, 2008

Capital Gains Tax

Asked if the Prime Minister was happy that initial proposals on Capital Gains Tax (CGT) had had to be altered, the PMS said that he did not want to say anything ahead of the Chancellor’s statement to the House of Commons, except that the main objective of the reforms that were made to CGT in the Pre-Budget Report were to simplify the system, which was something that businesses had been calling for. However, we had always said that we would consult on the detailed implementation; there had been quite a lengthy and detailed consultation with businesses over recent months and the Chancellor would be announcing the conclusions from that consultation on the implementation of the changes we had made to CGT in the House of Commons very shortly.

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