Tapering tips(cahnges to United Kingdom capital gains tax; includes related article)

United Kingdom capital gains tax is levied on investment profits above exemption levels of 6,800 pounds sterling per year. Tax has to be paid at the tax payer's highest rate. There is an indexation allowance to April 6 1998, taking inflation into account, and a taper relief system has also been introduced to reward investors who hold assets over the long term. The new system may mean that investors pay more. Investors are also affected by the loss of arrangements whereby annual allowances can be used by selling stocks and buying them back the following day.