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TonyTax
TonyTax, Tax Consultant
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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inherited shares in 1999, sold them in May 2014. made a profit

Resolved Question:

inherited shares in 1999, sold them in May 2014. made a profit in excess of capital gains allowance. any type of taper relief available on this gain over all this time?
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.
Hi.

I'm afraid that taper relief was withdrawn for disposals after 5 April 2008. You get the annual exemption and you can use capital losses brought forward to reduce your net gains for the year to the annual exemption level. In certain circumstances, you can use trading losses against capital gains as you will read here.

I hope this clarifies things for you. Let me know if you have any further questions.
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