Business leaders are set to meet with Chancellor Alistair Darling today to discuss their concerns over the proposed changes to Capital Gains Tax.
In the Pre-Budget report he proposed the abolition of taper relief bringing the Capital Gains Tax on the sale of a property up to 18% from 10%.
Four business organisations have already written a letter to the Chancellor raising concerns about the impact of ending Capital Gains Tax taper relief. The Federation of Small Businesses, Institute of Directors, CBI and the British Chambers of Commerce claim that the plans to increase the tax from on April 5 will set back the growth of the economy by discouraging long-term investment.