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If taxable gain relating badr exceeds the first £1M during their lifetime.
Will the gain be taxed at 10% or will it be charged at other rate after checking the taxable income?
A taxable gain in excess of £1m will not qualify for a 10% rate and will be charged at 20% as the gain qualifying for BADR will be deemed to have already used any remaining basic tax rate band from the taxpayers’ income tax computation – which further issue is shown in the OT study notes on page 86, section 1.4
Thank you sir