taper relief

noun

1. (in Britain) a system of relief from capital gains tax under which the percentage of a chargeable gain considered taxable is reduced for each whole year (from April 1998) that the asset was held by the vendor

Example Sentences

The Lib Dems are proud that the budget retains their plans for a rise in capital gains tax, and rightwing calls for a taper relief have been rejected.

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He added that the new rate "takes us back to a similar rate to where we were under the pre-2008 rules, when taper relief was able to reduce a 40% headline rate of CGT to 24%".

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But speculation is now mounting that the chancellor, George Osborne, may introduce transitional measures to soften the blow, such as taper relief, or possibly classifying buy-to-let properties as a business investment, allowing them to be taxed at a lower CGT rate.

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Maybe he will introduce some sort of transitional arrangement, perhaps a form of taper relief, to ensure a more orderly market.

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