London, U.K., 22 June 2010: ifs ProShare, the voice of the employee share ownership industry in the UK, comments on today's Budget.
Julie Richardson, Head of Employee Share Ownership at ifs ProShare, said:
ifs ProShare is pleased the 18% Capital Gains Tax rate remains unchanged for basic rate taxpayers rather than increasing as many had feared. This is clearly good news for hundreds of thousands of basic rate employees who save in their companies employee share plans.
The rise to 28% for higher rate taxpayers is obviously less welcome. The Chancellor previously said there would be "generous exemptions" for business assets and we were hopeful this would mean shares held in the company an employee works for were would fall into this category - as they had previously. We will continue to push for this policy tweak to help maintain the unique place employee share ownership holds in the UK economy.
For more information about employee share ownership or ifs ProShare please visit: www.ifsproshare.org
