Etc

Securities and taper relief

Readers will recall the concern that the term 'securities' in the Taxation of Chargeable Gains Tax Act 1992 was not quite as wide in its scope as had been thought, and that the Finance Act 2002 has remedied this by providing that section 251(6) (which deems certain debentures to be securities for some capital gains tax purposes) also applies for taper relief purposes.