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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4983
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Is there any extra capital gains tax relief for shares held

Resolved Question:

Is there any extra capital gains tax relief for shares held long term since2003 ?
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.

Hello and welcome to the site. Thank you for your question.

I am sorry to say there is no extra CGT relief for investments held for longer period.
Capital gain is based on the difference between cost price and net sale proceeds irrespective of timescale. Indexation allowance came to an end in 1993.

 

CGT simplification came into being for all disposals on or after 6 Apr 2008.

More information on indexation allowance can be found here

http://www.hmrc.gov.uk/manuals/cgmanual/cg10243.htm



I hope this is helpful and answers your question.

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Expert:  taxadvisor.uk replied 3 years ago.
I thank you for accepting my answer.

Best wishes.