Thu 05 Feb 2009
Few can have failed to notice the introduction of the new capital gains tax regime in April this year, given the general furore over the proposed changes and the press coverage this generated. Out went business asset taper relief (BATR), indexation allowance and the linking of the capital gains tax rate to the marginal rate of income tax. In came the flat rate of 18% and – eventually – a new entrepreneurs’ relief (ER).