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The article claims that although the move is aimed at squeezing the controversial tax break enjoyed by private equity firms, small businesses could also be hit.
Accountants and others have noticed a recent change of mood among business owners who are anxious that Mr Brown will restrict CGT reliefs and one tax partner with accountants Grant Thornton said they are already structuring the affairs of family firms in such a way as to shield them from possible changes to the CGT regime.
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It was supposed to encourage entrepreneurship, but has been used by private equity executives to reduce their tax bills. When the new Chancellor takes up his post, it is expected that he will begin consultations on tightening up the CGT regime.
Stephen Alambritis of the Federation of Small Businesses said: "If the consultation process takes a long time, entrepreneurs will start to sell up.
"Entrepreneurs need certainty and finality in their tax affairs, and if that is no longer a feature of the tax system itself then selling up and going off is another way of achieving that certainty and finality.'"
The Mail on Sunday said that during Mr Brown's tenure at the Treasury, he introduced a low rate of corporation tax, decided it was being abused by self-employed people and withdrew it. He has also presided over determined attempts to reclassify selfemployed people as employees, a status that generally involves paying more tax.
Full article: Family firms fear Brown - Mail on Sunday
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The Editor
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