Article: 'Humiliation' for Darling after tax climbdown; CAPITAL GAINS TAX.(Business)

Byline: By Alan Jones Special Correspondent

The Government is to reform its controversial capital gains tax changes, at a cost of pounds 200 million, following strong criticism from business.

Chancellor Alistair Darling yesterday told the Commons there would be a new capital gains tax "entrepreneur's relief" providing a special ten per cent tax rate for up to a pounds 1 million of gains.

Mr Darling said the move would benefit the owners of small firms when they sold their businesses. Capital gains of more than the pounds 1 million threshold would be taxed at the new ...

Related newspaper, magazine, and journal articles:

Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!