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Moneyextra.com Dictionary

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 companys 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

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    2009-02-17 00:00:00 © Moneyextra.com