Corporation tax created a separate system for taxing the income of corporations, where previously they had paid income tax in the same way as private individuals. Capital gains tax is charged on the disposal of assets, and is based on any "real gain" made from the disposal.
A new tax regime was created for corporations, separating their income taxation from that of private individuals. Capital gains tax is applied to asset sales, with the amount determined by any actual increase in value resulting from the sale.