SCHEDULES
SCHEDULE 2Capital gains tax reform
Abolition of taper relief
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In section 3A(2) (reporting limits)—
a
omit paragraph (a), and
b
in paragraph (b), for “such a deduction does fall to be made is the amount before deduction of losses or any reduction for taper relief” substitute “
a deduction falls to be made in respect of allowable losses is the amount before the deduction
”
.