Capital Gains Tax: archived material

Archived material

• The case Mansworth v Jelley consequences - relating to the gains and losses realised where assets are acquired by the exercise of options in certain circumstances.
• August 2004 Tax Bulletin containing an article on A new Statement of Practice, SP2/04, replaces SP8/94 in relation to certain expenses incurred by the personal representatives of deceased persons setting out standard scales of allowable expenses which may be used for certain purposes of the Taxation of Chargeable Gains Act (TCGA) 1992 in place of the actual allowable expenditure incurred.
• Changes to the conditions for gifts hold-over relief which take effect on 6 April 2003.
• December 2002 Tax Bulletin (Issue 62), containing an article on
  • Taxation Of Chargeable Gains-taper relief and exemption for disposals by companies with substantial shareholdings: meaning of 'trading company', 'trading group', 'trading sub-group' , 'holding group' and related issues
• Venture Capital Trust regulations
  Regulations making it easier for Venture Capital Trusts to manage their investment portfolio without jeopardising their shareholders' tax reliefs were laid before the House of Commons on 23 October 2002
  • News release
  • SI 2661: The Venture Capital Trust (exchange of shares and securities)
    Regulations 2002
• October 2002 Tax Bulletin, containing articles on
  • CGT - taper relief - anti avoidance - paragraphs 11 and 11A Sch A1 TCGA 1992
  • CGT - capital sums derived from assets - reliefs and extra statutory concession D33
  • CGT - taper relief - partnerships - disposals of partnership goodwill by partners - revised statement of practice D12
• August 2002 Tax Bulletin, containing an article on
  • Simpler rules for dealing with Instruments of Variation for IHT & CGT purposes
• June 2001 Tax Bulletin, containing articles on
  • June 2001 Tax Bulletin article: definition of a trading company for taper relief
  • June 2001 Tax Bulletin article: definition of a business of holding investments for taper relief
  • June 2001 Tax Bulletin article: definition of a security for taper relief
• Go to the main HMRC Budget Site
  Here you will find links to all HMRC Budget and Pre-Budget publications and News Releases to 2005.
• Helpsheets 2003-04
  These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date!
• Permanent Interest Bearing Shares (PIBS) (PDF 29K)
  Change to the definition of Permanent Interest Bearing Shares (PIBS) for tax purposes.
• Claim for ill-health retirement relief - CG85 (PDF, 62K)
  Where you have retired due to ill health, and have realised a chargeable gain on disposal of your business, assets of a business which has ceased, or shares in your personal trading company, you may be eligible to claim ill-health retirement relief (for qualifying disposals before 6 April 2003). For more details, see Helpsheet IR289: Retirement relief and Capital Gains Tax (PDF, 295K)
• Notes on Capital Gains Return 2002-03 [PDF, 192K]
  The notes help you fill in the tax return.
• Notes on Capital Gains Return 2001-02 [PDF, 269K]
  The notes help you fill in the tax return.
• Helpsheets 2002-03
  These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date!
• Helpsheets 2001-02
  These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date!
• Helpsheets 2000-01
  These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date!
• Summary of replies to public consultation on CGT simplification (2002) [PDF 31K]
  A summary of what was suggested, what will be implemented, and why some ideas were rejected.
• Go to the main HM Treasury Budget site (2002)
• Changes to Capital Gains Tax in Finance Act 2002 - a brief description
• News Release PR8/02, 26 March 2002
  Double tax charge on relevant discounted securities ended.
• Finance Bill 2002 (Note: If you use this link, you will leave the UK Government area. To return, use the 'Back' button on your browser.)
  The Finance Bill is the legislation drafted by Government in order to enact the statutory changes to taxation announced in the Budget. The Bill is debated in Parliament (during which amendments may be put down for debate), and the clauses that are accepted form the Finance Act, subject to Royal Assent. Once Royal Assent is achieved (typically in July), the Act becomes law.
• Explanatory Notes on Clauses 2002
  These notes help to explain what is the intention of the clauses in the Finance Bill.
  Clause 45 would implement the proposed reduction in the business assets taper to two years as set out in the Budget Note REV BN 8. The explanatory memorandum gives an example of how the new rates would be applied where an asset has been both a business asset and a non-business asset.
  The CGT simplification measures set out in Budget Note REV BN 7 are to be found in clauses 44, 46 - 51 and 117.