Finance Act 2008

Capital gains tax

8 Rate etc

(1) In TCGA 1992, for section 4 substitute—

“4 Rate of capital gains tax

The rate of capital gains tax is 18%.”

(2) Schedule 2 contains further provision for and in connection with the reform of capital gains tax.

(3) The amendment made by subsection (1) has effect for the tax year 2008-09 and subsequent tax years.

9 Entrepreneurs' relief

Schedule 3 contains provision for and in connection with entrepreneurs' relief.