22 June 2010
APCIMS welcomes Chancellor’s pragmatic approach to CGT changes
APCIMS welcomes the Chancellor’s decision to retain both the Annual Exempt Amount of £10,100 and the 18 per cent rate for basic rate taxpayers.
Commenting on the changes, David Bennett, Chief Executive said that:
“The vast majority of those who would be caught by lowering the Annual Exempt Amount and raising the rate of CGT are not speculators but long-term private investors. We welcome the Chancellor’s decision not to introduce a CGT regime that has a detrimental impact on the smaller investor.”
- Ends -
For more information please contact:
David Bennett
Chief Executive, APCIMS
on 020 7448 7100 or Mobile: 0798 3543529
Email: davidb@apcims.co.uk
Note for editors:
The Association of Private Client Investment Managers and Stockbrokers (APCIMS) represents firms acting on behalf of investors. Member firms deal primarily in stocks and shares as well as other financial instruments for individuals, trusts and charities and offer a range of services from execution only trading (no advice) through to full portfolio management.
Our member firms operate on more than 500 sites in the UK, Ireland, Isle of Man and Channel Islands, employing 25,000 regulated staff. Around £335 billion of the country’s wealth is under the management of our members. Our aim is to ensure that the regulatory, tax and other changes across Europe are appropriate and proportionate for the investment community.