TRADE NEWS Advertising on social networks will not be invasive Mexx to withdraw from UK retail industry Waterstones aims to improve supply chain Retailers can use domain name to boost online presence Online shoppers unsure of risks Counterfeit goods harming retail industry Majority of internet users shop online Dragon's Den duo see product take off Online sales increase in January Retail sales slow in February Retailers set for Mother's day windfall Mamas & Papas begin retail expansion Independent retailers urged to assess everything Retailers hope to increase internet exposure Ambitious Britons hope to own businesses Retail sales enjoy quarterly growth Retailers retain confidence in the industry Women prepared to walk the earth for retail Retailers urge chancellor to ease burden Retailers urged to curb discounting Internet claiming increasing numbers of high-street shoppers FPB urges competition commission to help smaller retailers Competition commission set to replace code of conduct London retail sales below par in January Online retailers drive to attract new consumers Retailers taking legal obligations seriously UK wholesalers could be shunned by supermarkets US retailers enjoy shock sales rise Women opt for ethical Valentines gifts Retail sales set to face 2008 dip Sales boost January retail figures Retailers set for prosperous Valentine's Day Groups warn on danger of toy imports Government needs to raise small business legal awareness FWD outline annual conference plans Shop price inflation rises eBay abandons buyer negative comments European retail sales dip in December Demand for British goods increases Cashback websites battling high street for customers US wholesale prices increase Organisations to petition bag ban Capital Gains Tax may not be compatible with EU law Archive January trade news 2008   1st February 2008   Capital Gains Tax may not be compatible with EU law The recent amendments to Capital Gains Tax (CGT) may be incompatible with European law, it has been claimed. The Institute of Chartered Accountants of Scotland maintains that the changes may not provide wholesalers, retailers and importers with adequate time to claim their relief entitlements. Director of taxation with the organisation, Derek Allen, has revealed that government may be forced to make further changes to the regulations to harmonise it with existing continental rules. "Taxpayers now have less than ten weeks to rearrange their assets and, if necessary, try to arrange a disposal to protect some of the indexation relief which may have accrued because of inflation between 1982 and 1998," he said. Mr Allen added: "It is wrong to tax inflationary gains and it would be contrary to European law to deny taxpayers sufficient transitional time to rearrange their affairs before the new legislation is enacted," he added. According to European case law a 90-day transitional period would be a more acceptable time frame.   (c) 2008 Adfero Ltd.   Subscribe to The Wholesaler UK regular newsletter featuring trade news, suppliers offers and trade show reminders. . .