The chancellor Alistair Darling has said he will not announce any revisions to the controversial capital gains tax reforms until 2008.

The move has been criticised by the Federation of Small Businesses, which had been expected the issue to be resolved in December, although the body welcomed the news that Darling would again meet the FSB and other business organisations.

"We are still no clearer on what will happen with the tax arrangements for millions of small business owners and entrepreneurs come April next year," said John Wright, FSB national chairman. "This is not a good situation to be in."

The Chartered Institute of Taxation (CIOT) has recommended that any changes to the current capital gains tax regime do not come into force until April 2009 to allow time for a full consultation.

"The CIOT is deeply concerned that this puts many small businesses and individuals in an extremely difficult position, said CIOT president Rob Ellerby.

"All businesses and individuals want to be able to plan their tax affairs with a degree of certainty. Any entrepreneur considering disposing of their business now has scant idea of the tax implications if the sale is after 5 April 2008."