Tuesday
Nov242009
Tax reform by Compass
24 November 2009 in General Compass has issued a paper on the reform of the tax system to build a fairer society, which can be downloaded here. There is probably the odd credible idea somewhere but, generally, it has the flavour of a lower sixth form project.
No mention of CGT on residences, which is predictable given that membership of Compass demands the ownership of a townhouse in Islington. No mention neither of revising the inheritance tax code, which is genuinely surprising and hardly up to speed with the mood being expressed by others elsewhere.
But probably all anyone needs to know is that the authors believe that entrepreneurs' relief reduces the effective rate of CGT from 18% to 0%.
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