17-12-2007
Chancellor faces further criticism over CGT
A significant amount of criticism has been levelled at chancellor Alistair Darling over his new stance on forthcoming capital gains tax (CGT) proposals.
Mr Darling has been criticised for his decision to hold off his clarification of the CGT concessions currently being discussed with members of the business community.
The chancellor had earlier promised to provide details of the forthcoming taxation regime during a speech at the Confederation of British Industry annual conference.
As a result of the shift, uncertainty is likely to persist among business owners until after the first week of January, at the earliest.
"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.
CGT is levied on the profit obtained from the sale of a particular asset - for example, property, stocks and precious metal.