The Revenue said: 'Subject to detailed consultation, the government intends tointroduce a 5 year taper for business assets which reduces the equivalent CGT rate for a higher rate taxpayer from 40 per cent for assets held for less than 1 year, reducing in 6 per cent steps to 10 per cent for assets held for more than 5 years.'A business asset includes substantial shareholdings in a trading company. The Government will assess the case for substantial reductions in the thresholds of 5 per cent and 25 per cent at which these shareholdings qualify.'
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