Knowledge Bank >Business Tax >Sales of Business Assets
01: Introduction
In the Pre-Budget Report on 9 October 2007, the Chancellor announced that special business taper relief would be abolished from 6 April 2008. There is to be a new flat rate capital gains tax charge of 18% on both business and non-business assets.
This could have important implications for you if you are considering disposing of business assets before the end of the tax year 2007/08.
