Budget 2004

Business Taxation

Corporate Capital Gains

• included in profits and chargeable at applicable corporate tax rate
• companies cannot claim taper relief
• indexation allowance is available
• gains by trading companies or groups on disposal of "substantial shareholdings*" in trading companies may qualify for exemption†

* An interest of 10% or more
† Detailed conditions apply

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.