1107 - Has business taper relief been applied to a gain on any asset?

Select 'Yes' from the drop-down menu if business taper relief has been applied to a gain on any asset otherwise, select 'No'.

Taper relief reduces the amount of the capital gain to be taxed on the sale of an asset, according to the number of 'whole years' you held the asset after 5 April 1998. This period is called the 'qualifying holding period'. The longer you have held the asset, the smaller the percentage of the gain to be taxed. The rate of taper relief depends on whether or not the asset was a business asset.

For further guidance and information, please see the Capital Gains Summary Notes (PDF 127K).

To view the guidance notes you need to use a PDF file viewer. You can get one at www.adobe.com