| 单词 | taper relief |
| 释义 | taper relief A tax relief on capital gains tax in the UK. It applies to capital gains on the disposal of assets acquired after 5 April 1998. The percentage of the gain considered chargeable is reduced for each whole year of ownership after this date. The reductions are at a rate of 7.5% for each whole year of ownership for non-business assets and 5% for each whole year after the first two years for business assets. The maximum reduction is 75% for non-business assets and 40% for business assets. So, for example, the capital gains tax on a business asset held for 7 years will be levied on 75% of the capital gain. In the case of assets acquired before 5 April 1998, the chargeable gain is calculated according to the former system of indexation. |
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