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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Insurance agents: indexation allowance and rebasing

The simplified scheme should be adapted to take account of indexation and rebasing. There is not an approved method which has been agreed with the representatives of the insurance agents. You should be prepared to consider any method which is reasonable and is applied consistently.

NOTE. If a taxpayer is within the charge to Capital Gains Tax, neither indexation allowance nor taper relief apply to disposals of assets on or after 6 April 2008. Previously indexation allowance had been frozen at April 1998. Companies and other concerns within the charge to Corporation Tax are not affected by these changes. For indexation allowance see CG17207+ and for taper relief see CG17895+.