Capital Punishment

Western Mail (Cardiff, Wales), December 5, 2007 | Go to article overview

Capital Punishment


Chair of FSB Wales Janet Jones explains why small businesses have most to lose from the Government's plans for a single rate of capital gains tax THE FSB was quick to voice its anger following Alistair Darling's first Pre-Budget Report (PBR) in October. The FSB made it clear that this wielded another blow against the small business owner, and was likened to using a sledgehammer to crack a nut.

Capital gains tax (CGT) is to be increased from 10% to 18%. Small business is suffering. Again.

This was a standardisation move from the Government in what can only loosely be called an attempt at closing the private equity loophole.

And yet, for some unfathomable reason, the army of experts at the Treasury had failed catastrophically to devise a system whereby the real targets, the private equity players, were made to pay their share.

This is despite having carried out a six-month review of the tax treatment of private equity groups. Instead, yet again, the small business owner has to bear the brunt for the few big players at the top.

What does this mean in everyday terms? Well, the implications are many, not least that if you sell up you will lose 18% of the proceeds - a direct enough consequence by anyone's standard. The family-run businesses lose out after years of hard work.

The FSB has heard of many cases in which small business owners are now looking to sell up before the changes come into effect.

These include a motor garage owner who has run his business for 21 years and who wanted to sell up and use the proceeds as a pension. Yet accountants have informed him that, if the sale goes through after April 2008, he will incur an additional capital tax liability of pounds 42,000.

Once again, the Government has failed to realise the full implications of its diktats.

In essence, the new rate still leaves relatively unscathed the elite of multi-millionaires, compared with the hard-working small business owner. But not just that. Anyone who invests in small businesses will also be hit, and the move consequently threatens those who invest start-up capital for small businesses and budding entrepreneurs. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Capital Punishment
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.