Policy paper
Capital Gains Tax: exemption for certain wasting assets
This Tax Information and Inmpact Note amends Section 45 of the Taxation of Chargeable Gains Act 1992 about the Capital Gains Tax (CGT) exemption for gains accrued on the disposal of certain wasting assets.
Documents
Details
The measure makes clear that to qualify for the CGT exemption for gains accruing on the disposal of certain wasting assets, an asset must have been used in the business of the person disposing of it. The changes will have effect for gains accruing on and after 1 April 2015 for Corporation Tax purposes and 6 April 2015 for CGT purposes.
Updates to this page
Published 18 March 2015