Released on: February 26, 2008, 5:31 am

Press Release Author: Furley Page Solicitors

Industry: Law

Press Release Summary: Despite Chancellor Alistair Darling's recent u-turn on
business Capital Gains Tax (January 24), new tax rules to be introduced in April may
still leave business owners short changed if they want to sell assets or shares,
according to Kent company commercial lawyer Susan Jennings.

Press Release Body: Despite Chancellor Alistair Darling's recent u-turn on business
Capital Gains Tax (January 24), new tax rules to be introduced in April may still
leave business owners short changed if they want to sell assets or shares, according
to Kent company commercial lawyer Susan Jennings.

She says: "At the moment, the sale of shares can attracts Capital Gains Tax at 10%
if held long enough, but this is set to rise to 18% from April 2008. The proposed
'entrepreneur's relief' will only benefit those making a lifetime gain of £1,000,000
or less to which a 10% rate will apply. The 18% rate will apply to sums in excess of
this. As the relief appears limited to disposing of trading companies or shares in
trading companies, it will not help everyone. Indexation allowance will also be lost
which means potentially paying more tax when selling assets. To take advantage of
the current regime, Kent business owners need to review the course of action that
might be best for them in light of the impending changes.

"This needs to be done as soon as possible with advice from accountants and lawyers
as the average sale can take a couple of months and the clock is ticking."

Business owners wanting more information can call Susan Jennings on 01634 887334 or
email saj@furleypage.co.uk.

-ends-



January 2008

Notes to editors
Established 280 years ago, Furley Page LLP has offices in Canterbury, Chatham and
Whitstable covering Kent and Thames Gateway, offering legal services across 12
practice areas in commercial and private client law. For further details visit
www.furleypage.co.uk.

A digital photograph of Susan Jennings is available by contacting PR consultants
Edwards Harvey.





Web Site: http://www.furleypage.co.uk/

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