How to use taper relief in a sentence
1- Labour eliminated the taper relief whereby tax paid depended on how long an asset had been held.
2- If current government proposals are implemented, the tax on capital gain will be 18% without indexation or taper relief .
3-
4- This is known as inheritance tax taper relief (not to be confused with the better-known capital gains tax taper relief ).
5- Companies paying corporation tax cannot claim a taper relief but can claim an indexation allowance to offset the effect of inflation.
6- taper relief replaces indexation allowance for individuals, which can still be claimed for assets held prior to 6 April 1998 from the date of purchase until that date, but was itself abolished on 5 April 2008.
7- taper relief provided up to a 75% reduction (leaving 25% taxable) in taxable gains for business assets, and 40% (leaving 60% taxable), for non-business assets, for an individual.
8- At the time of the proposals there was concern that the changes would lead to a bulk selling of assets just before the start of the 2008–09 tax year to benefit from existing taper relief .
9- The changes were introduced, at least in part, because the UK government felt that private equity firms were making excessive profits by benefiting from overly generous taper relief on business assets.