Capital Gains - Non Business

[MarillionFan]

I was just looking at a tax card some accountant handed me and it shows tapered relief for Capital Gains on non-business assets.

If you have held an asset for 5 years and sell it it you only pay tax on 85% of the rises. Is this correct I always thought it was CG on the whole amount?

[AtW]

http://www.hmrc.gov.uk/leaflets/cgt1.htm#f2

hth

[MarillionFan]

Cheers. Thats the one

Which just goes to prove, you never know it all. Least I was right about commercial. Only 25% CGT after two years. Pity the stupid bitch pulled out on me two days before exchange. Grrrrrrrr.