SFA wants reduction in capital gains tax

SFA wants reduction in capital gains tax

The Small Firms Association (SFA) has urged the Government to bring capital gains tax (CGT) back down to 20%.

The group is also seeking a three-year 10% rate for the disposal of sites with planning permission.

In a pre-Budget submission, the SFA argues that an overhaul is needed on the current 33% rate to boost investment.

They also said that it has been shown over the last 20 years that when the CGT rate drops, the Exchequer benefits due to a surge in activity.

It calls the proposed move a "win-win" as a result.

Eight years since recession hit, the SFA also makes the case that SMEs are still hurting, and that "many small businesses are still waiting to feel the upturn".

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