CG16981 - Rebasing: deferred charges: gains pre-31/3/82: introduction

To give the precise equivalent of rebasing to 1982, it would have been necessary to establish how far the deferred gains were attributed to increases in value up to 31 March 1982. This was impracticable. Nevertheless Parliament decided that some relief should be available. This became known as “halving relief”.

CGT Simplification, including a single rate of CGT applies for disposals on or after 6 April 2008. As part of CGT Simplification, this relief for deferred gains is no longer available.

CGT Simplification does not apply to companies who pay corporation tax on their chargeable gains.