CG17964 - Taper relief: Apportionment table where assets become business assets from 6 April 2000
In order to simplify the calculation, taxpayers may use a
table to complete tax returns for assets that they
- owned before 17 March 1998; and
- that were wholly non-business assets up to 5 April 2000; and
- that were wholly business assets from 6 April 2000 up to the date of disposal.
The tables are published within ‘An Introduction to
Capital Gains Tax’, found on the HMRC website, which shows
the apportioned taper rate for assets acquired before 17 March 1998
for any month of disposal, and in Help Sheet IR279 which shows the
apportioned taper rate for assets acquired in any month for any
month of disposal in the year of assessment.
They may apply the percentage in the table to the total
chargeable gain. Using the table saves having to apportion the gain
into a gain on a business asset and a gain on a non- business
asset, and making separate taper calculations.
Taxpayers should not use the table if they wish to, or are
required to, offset a loss against one or both of the apportioned
chargeable gains on the asset. They should also not use the table
where TCGA1992/Sch A1/paras 10 to 12 apply, see CG17915+.
Use of the tables is voluntary.
