Article: City: Special Report - Year-end tax planning: Property opens doors to relief from CGT YOU SHOULD PUT YOUR AFFAIRS IN ORDER WELL BEFORE BUDGET DAY Doug Morrison shows how reinvesting capital gains in special companies can keep the taxman at bay almost indefinitely

Budget day is looming and the rush is on for wealthy people desperate to shelter huge capital gains. Property development is being dangled before them as a means of beating the taxman before the government introduces its widely-expected fiscal reforms.

Property dominates the clutch of so-called reinvestment relief companies which allow investors to side-step tax liabilities by reinvesting their capital gains in specific areas.

The fear is that, post-Budget, property will be withdrawn as a qualifying trade, which helps explain why Enterprise Group and Jones Lang Wootton, one of Britain's leading estate agents, will attempt to raise - in one week - up to pounds 50m for a new development fund. ...

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