The controversy over Capital Gains Tax (CGT) has ‘eroded’ small business trust in the government according to claims made by small business experts.
The National Federation of Enterprise Agencies (NFEA) believes that despite the revision of earlier CGT plans in favour of SMEs, this was only good news to a point.
“The tragedy is that this controversy, and the widespread concern amongst small business owners, ever arose in the first place,” explained chief executive of the NFEA, George Derbyshire. “Consultation at the outset might have avoided this situation.”
He added that the confusing debate must have given the ‘wrong message’ to those owners who have built up their business over time.
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