Part 1Charges, rates, allowances, reliefs etc
Capital gains tax
8Rate etc
(1)
In TCGA 1992, for section 4 substitute—
“4Rate 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.
9Entrepreneurs' relief
Schedule 3 contains provision for and in connection with entrepreneurs' relief.