Taper Relief

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I understand that if something is bought in 1985 for example and sold in 2001, you taper from the taper date until 2001.

What if you buy something 2001 and sell it 2005. What date do you taper then?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Taper Relief

    Taper relief doesn't start until you have owned the asset for two whole years. After that, any increment is caused by another WHOLE year. 3yrs 11months would only get same taper relief as 3yrs 1 month.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Taper Relief
    pele wrote:
    What if you buy something 2001 and sell it 2005. What date do you taper then?
    Well you would have had it 4 years (2001 to 2005) therefore would attract 90% taper relief.

    That is assuming that's 4 whole years, not 3 years and 11 months, where it would attact 95% taper relief.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Taper Relief

    Taper relief is the no of complete years you have held in since 5th April 1998. Don't forget you need to add a bonus year for any non business assets held before 17th March 98. People in my exam room will be able to see me working it out on my fingers like some toddler - its the only way I can do it!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Taper Relief
    Bobby wrote:
    People in my exam room will be able to see me working it out on my fingers like some toddler - its the only way I can do it!!
    That's so funny, I do that too! :lol:

Categories

Privacy Policy