Taxation of Chargeable Gains Act 1992 section 214C

Gains not eligible for taper relief

Section 214C identified certain gains that were not eligible for taper relief, but has been removed from the legislation.

• Section 214C originally specified categories of chargeable gains that could not benefit from taper relief
• Taper relief was a mechanism that reduced the amount of a chargeable gain based on how long an asset had been held
• This section was removed from the legislation with effect from 1 January 2007 by the Finance Act 2008
• The removal formed part of the wider abolition of taper relief, which was replaced by a flat rate of capital gains tax from 6 April 2008