Tax centre
Pre-Budget Report 2007
Capital gains tax
There will be a single 18% rate of capital gains tax from 6 April 2008 for individuals, trustees and personal representatives. Taper relief and indexation relief (except for companies) will be withdrawn from the same date.
These changes will result in a simplification of the identification rules for matching disposals of part of a holding of shares acquired on more than one date. The annual exemption (currently £9,200) will remain and other capital gains tax reliefs (eg, for a main residence) will continue.