Lib Dems blast 'clumsy' Govt CGT plans

Speaking at a British Venture Capital Association (BVCA) conference, Cable says he supports simplifying the CGT regime but says the Government’s poor handling, along with industry outrage, have clouded the taper relief issue. Cable says: “The Government’s hamfisted approach to the reform of CGT and the outrage of business lobbies have obscured the basic point: that there is no justification for complex taper relief and no justification for treating capital gains differently from other forms of income.” He claims taper relief is an over-complicated piece of tax meddling and says relief has...