Capital gains tax (CGT) reform
The Chancellor surprised everyone with major changes to the CGT regime.
Legislation will be
introduced next year to give effect to a new single rate of charge to CGT at 18%.
A number of
changes will be made for disposals made on or after 6 April 2008 to simplify the capital gains
tax regime, including:
 the withdrawal of taper relief
the withdrawal of indexation allowance
simplification of the share identification rules. |
