Capital gains tax change likely to have 'substantial' impact

October 2007
Farmers Weekly;10/12/2007, Vol. 147 Issue 15, p21
Trade Publication
The article reports on the changes announced by Great Britain Chancellor Alistair Darling to the capital gains tax system in his first pre-budget report. He said that business asset taper relief on capital gains tax will be removed starting April 6, 2008. A flat rate of 18 percent capital gains tax will apply to both business and other assets. Capital gains tax will continue to be held over on gifts and can be rolled over into qualifying assets like agricultural land.


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