Summary
WHEN the Chancellor of the Exchequer, Alistair Darling, made his pre-Budget speech in October this year, he announced plans to reform some of the current structure surrounding Capital Gains Taxation.
The plans suggested that, from the new financial year (beginning April, 2008) the concept of taper relief will cease. So, instead of your Capital Gains being calculated on a tapered rate of either 10%, 20% or 40% (depending on your income tax rate) there will be one flat rate of 18%.See the full content of this document
Extract
Reforms Will Put an End to Tapered Relief
Currently, maximum taper relief is available on busi...
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