Alistair Darling, Chancellor of The Exchequer, has done a U turn over his plans for single rate 18% capital gains tax.
Having unleashed a storm of protest from business groups (such as the CBI) who complained that the removal of tapering relief would damage entrepreneurship, Darling has agreed to give £100K in tax relief for owners of small businesses who sell up and retire.
Therefore where will Darling now find the extra money needed to meet his U turn on CGT?
What the Chancellor gives with the one hand, he takes with the other.
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