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Taper relief problems for employees
I am representing Proshare on the Inland Revenue's capital gains tax Simplification Group which is reviewing the operation of capital gains tax in practice. We have identified the position of employee shareholders as being one area where improvements could be made, and we now have a real opportunity to get the legislation changed. I have therefore been asked to gauge the extent to which the following is occurring in practice.
Taper relief problems for employees
I am representing Proshare on the Inland Revenue's capital gains tax Simplification Group which is reviewing the operation of capital gains tax in practice. We have identified the position of employee shareholders as being one area where improvements could be made and we now have a real opportunity to get the legislation changed. I have therefore been asked to gauge the extent to which the following is occurring in practice.
The 30-day subsequent acquisition (bed & breakfast) rule was introduced to stop what the Chancellor believed were abuses. Prior to the introduction of this rule it was possible to sell shares in a year when the taxpayer had losses which could be offset against the gain or in the year in which the full capital gains tax annual exemption was available. The taxpayer could then repurchase the...
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