Is the Autumn Statement just another PR stunt?

/ Government

Author: Henry Ejdelbaum

Tags: Autumn, Capital, CGT, chancellor, foreign, Gains, George, Investment, Osbourne, Statement, Tax, UK

AIMS Accountants for Business - Autumn PR Stunt

As far as we can see, there are some genuine changes that will benefit SMEs and boost small business activity. We are accountants, so naturally we look at the numbers and the finer detail that sits behind the Chancellors Autumn Statement and there is one loophole that seems to present itself;

Mr Osborne mentioned that if a non-resident sells a residential property in the UK, that person should pay Capital Gains Tax like every other UK business owner which we agree is common sense. What we would like to highlight is the fact that a wealthy non-resident can purchase a large office building and sell that property without paying Capital Gains Tax. So where is the logic there?

I know we need to encourage international investment but surely there needs to be a level of fairness? Why should a UK business pay CGT on the sale of a business property and not a non-resident business owner?

We don’t have a political agenda, but we do like decisions to be made on behalf of hard working British Businesses. Let us know if you agree or if there was anything that you think the Chancellor missed?

If you like the way we think – you will like the way we work.

AIMS Accountants for Business are the largest independent association of professionally qualified accountants in the UK specialising in accountancy for small, local and independent businesses. AIMS are no ordinary accountants and we are more than just number crunchers! Find your local AIMS Accountant.