CGT losers

Everybody has their own favourite alternative.

However it does seem to be clear that unless something is done there will be a huge rush for people to dispose of assets before 5 April 2008 so as to secure indexation and taper reliefs because in many cases this will substantially reduce their tax liabilities. Even if a premature disposal is not commercially wise the possibility of the tax doubling is an overwhelming reason for immediate action.

I previously made reference to those who have deferred consideration or loan notes due for redemption after 5 April 2008 who are completely trapped and for whom there is a compelling case for relief. The change also provides the death knell for EMI share option schemes the main advantage of which being that taper relief started to run from the date of grant and not the date of exercise. Those who have...