Taper Relief-CGT PTC Tax

rusbfs44

Does anyone have an easy method to work out the number of years ownership of assets to work out the taper relief, as I always seem to get it wrong.

Thanks

imeldabye

yes you and me both. i sat PTC in June and just used my fingers - counting out silently how many years. mad i know but it worked!

Jentel

If indexation is involved as well astaper relief then the years will always be 10. This is because indexation is up to 06/04/98 and taper relief starts from that date so as of this year 2008 exams taper relief will always be 10 years. If indexation is not used then other than using my fingers i usually write down the dates. eg.

05/06/1999 - 04/06/2000 = 1yr
05/06/2000 - 04/06/2001 = 2yrs
05/06/2004 - 04/06/2002 = 3yrs

etc etc

Good luck all for next week

welshwizard

tapir relief?

rusbfs44

no welsh wizard not quite what I was looking for.lol