taper relief


taper relief
In the UK, a tax relief that can be set against capital gains made on disposals of assets. The amount of taper relief depends on the type of asset (business or non-business) and the number of complete years of ownership after 5 April 1998. The rules governing the extent of the relief are complex and have been changed several times since it was introduced in 1998. The maximum reduction in the chargeable gain is 75% for business assets and 40% for non-business assets.

Accounting dictionary. 2014.

Look at other dictionaries:

  • taper relief — A relief from capital gains tax (CGT) available to individuals, trustees or personal representatives which reduces the amount of a chargeable gain (chargeable gains) according to how long an asset is held after 5 April 1998. The rules draw a… …   Law dictionary

  • taper relief — ➔ relief …   Financial and business terms

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  • taper — / teɪpə/, tapering relief /ˌteɪpərɪŋ rɪ li:f/ noun a new system of reducing capital gains tax payable when shares are sold, according to the length of time the shares have been held …   Dictionary of banking and finance

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  • Mark Taper Forum — Address 135 North Grand Avenue City Los Angeles, California Country   …   Wikipedia