Budget 2008

Corporate Capital Gains

• Included in profits and chargeable at applicable corporation tax rate.
• Indexation allowance is available but cannot create or augment a loss.
  
• Gains by trading companies or groups on disposals out of “substantial shareholdings” (an interest of 10%or more) in trading companies may qualify for exemption*.
• Rollover relief
  
  • may be available subject to qualifying conditionsbeing met
    
  • special rules apply in respect of tangible assets such as quotas and good will.

* Detailed conditions apply.