Business assets (CGT)

A business asset is defined as:

Assets used in a business.

All shareholdings in unlisted trading companies, including AIM companies.

Any shareholding of 5% or more in a quoted trading company and any shareholding in such a company held by any employee or director. (All employees, not just full-time employees, will qualify.)

Assets held by a shareholder, whose shares are business assets and are used in the company's trade.

Effective 6 April 2008, they will be required to pay an additional 13% tax on any gain above the nil rate band.

See also. Tax tables Capital gains tax

Last Updated: March 2008 © Moneyextra.com

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