BMA complains to chancellor over capital gains tax

The BMA has written to the chancellor expressing concern at the way changes to capital gains tax could impact on GPs.

The letter, from BMA chairman Dr Hamish Meldrum and the British Dental Association is in response to the pre-Budget report announcement that taper relief on capital gains tax would be abolished in April 2008.

GPs thinking of selling surgery premises or shares in premises after April 2008 will face a tax bill up to £15,000 higher than now.

The chancellor has since offered 100 per cent tax relief on the first £100,000 of any capital gain. However, given the significant amount invested in premises, the BMA still believes that the proposals could jeopardise the retirement plans of its members.

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