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taper relief

noun
1.
(in Britain) a system of relief from capital gains tax under which the percentage of a chargeable gain considered taxable is reduced for each whole year (from April 1998) that the asset was held by the vendor
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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