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Following discussions yesterday between the Treasury and the Federation of Small Businesses CBI etc yesterday the Chancellor will announce a halving of the rate from 18% to 9% for gains up to £750,000 for the disposals of businesses and substantial shareholdings.
What will be crucial will be the definition of the disposal of a business and we will be back to retirement relief arguments.
Whether this disposal has to be tied in to retirement and whether there will be any relief for related disposals of assets used in a business we will have to wait and see.
He is not moving on indexation so bad news for farmers.
He will make his announcement today.
We will get more detail in a press release hopefully today and will update this news item as soon as we have more information.
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