TaxPersonal TaxGuidance note released on capital gains tax taper relief

Guidance note released on capital gains tax taper relief

The Inland Revenue this week provided some additional information on taper relief for capital gains tax.

The Finance Act 2000 made some changes to the rates of business assets taper relief, and to the definition of a business asset for taper relief.

The new rules apply to disposals on or after 6 April 2000, so for 1999/2000 tax returns you should use the old rules in existing versions of CGT1 and IR279, and not the new advice.

Links

Note covering Capital Gains Tax: Taper Relief

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