I have built up my small business over 20 years, and now I am approaching retirement the Gov't wants to increase the tax by 80% and let of low risk ventures of with lower tax ! How can we plan for the long term if the Gov't keeps changing the rules every couple of years !

The governemnt has destroyed or reduced in value most of the Private Sector Pensions WHY does it now want to REDUCE the pensions of those who own small businesses. Would the MP's like to see an increase of 80% tax on their generous, inflation proof pension fund ?

Campaign to keep the TAPER Relief for Small Businesses, sign the petition on

http://petitions.pm.gov.uk/SaveCGTrelief/

Gerald, Rainham, Essex, UK

Thare has been little comment on the effect on standard tax payers. Those who have saved for a long time through government encouraged unit trusts, Save-as-you -earn in Company shares and Privatisation issues will get indexation and taper allowances back to 1982 retrospectively abolished and replaced by an 18% rate which is just marginally under the 20% standard rate. Can we sue the government for miss-selling?, or in fact fraud? - or was it simply incompetence?

John O'Donnell, Hamilton, Lanarkshire

Certianly support the small businesses , but what about us with buy to lets??, We have to maintian and work towards renting them. Shifting beds and sofas is pretty hard work too!, as is decoration. Sauce for the Goose is sauce for the Gander, give us full taper benefits like those enjoyed by the city fat cats before the Pre-Budget Report!!

Peter Grant, Downpatrick,

The proposal has been rushed out without adequate thought to the consequences of its implementation. - effect on small business owners, company share schemes etc. They should scrap the proposal and start again. I personally make about £20k per year from short term gains on share and option trading - I would see my gains (£11k after exemption) taxed at 18% instead of 40%. Very nice thank you but why should my short term gains be better treated than a small business built up over the years?

R Chalmers, Guildford, UK

Presumably most AIM market directors will have a powerful incentive to sell their shares before this kicks in. What will that to for confidence in Britain's small growing businesses, which are so critical to our future? So much for an enterprise friendly government. Shoot the innovators whilst letting a small group of private equity partners (where the party may be running out of steam in any case) off lightly...

Duncan Hilleary, Warwick,

It would have made much more sense if he had moved the taper relief to come into play after ten years, for example. That way he would have been able to say he was dampening speculative investment and rewarding the true long term business owner. As things stand, all he has done is shoot himself in the foot. He has to do much better than this and shows he has a lot to learn. My question is, who advised him on this course of action?

Chris Coles, Medstead, Alton, United Kingdom

Yes indeed Rod ... but who keeps voting for them ?

Benzo, Nr Chelmsford,

When this Government came into power, there was a relief available to small businesses called the retirement relief which rewarded business owners on retirement who have been working hard all their life. This Government abolished that and instead brought in Taper relief and effective capital gains tax rate of 10% which every one thought was fair. Now the Government has done a U turn and increased this tax by 80%. How can this be regarded as fair when some has been working hard all his life and hoping to sell his business and retire and suddenly find that he is going to be worse off.

Ash Mahmud, Manchester, United Kingdom

How on Earth can Labour claim to be the government of enterprise? This measure is going to kill off family firms - clearly Labour want you working 9-5 for foreign firms that are enticed over here by massive tax breaks that we're paying for.

Perhaps if Labour didn't waste so much money they wouldn't need to keep replacing it - obviously Brown rode the back of an economic boom, and when it comes time to actually do something with it, Labour screw it up. It makes my blood boil to see Brown gurning with pleasure during the pre-election budget speech - it was like being stabbed in the front by a lunatic.

Ross Liversidge, Ripon, UK

Stuart, that statement would be right for you if your profit on the buy to let is less than the sum required to get you into the 40% tax band, after your annual exemption amount is factored in.

Most BTL owners on BR tax wll ind that their gain on disposal puts them immediately, if only temprarily, into the 40% band.

Nigel Wroe, Doncaster, Yorkshire

Could not agree more rod! Gordon Brown's incompetence was staggering as Chancellor and Darling follows the pattern. Give us a government that lets the individual decide on how to spend their money, not have the decisions made for us by squanderous central government in punitive taxation. My family was far better off under the Tories than this bunch of 'numpties', we could save, invest and plan for the future, all this went down the pan with 'New Labour'. Under Labour government there is no future! Sadly I speak as a 'working class' man, married with one child.

R.Ballard, Leicester,

How is this tax change a boon to buy-to-let investors, this is only for short term 40% tax payers.
When I sell my 8 year old buy-to-let, I would have faced a tax of 60% (taper relief) x 20% = 12%, now it is 18%.
How can anyone make any sensible long term investment decisions when the government does u turns at the drop of a hat.

Stuart, Great Missenden, United Kingdom

this nulab bunch are out of their depth, I wouldn't trust them to run a three legged race let alone a country. Everything they touch they destroy.

rod dull, kettering,