Richard Perkins | 17 November 2009
The Finance Act 2008 removed "Taper Relief" and its predecessor "Indexation" from the Capital Gains vocabulary. It also removed the prospect of Higher Rate Tax and set as standard a rate of 18% tax for gains in excess of the Capital Gains Allowance (currently £10,100 per annum).
There was much lobbying in Parliament by the insurance companies because, at a stroke, the government had virtually confined Onshore investment bonds to history. more....
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