Revenue changing the rules after investment is made

What happened when deemed disposal was introduced in the 2006 finance act?

Those investors who had already retired, assuming they only had to pay on sale, were now hit by this rule change with no way out?
Or only investments made after the introduction of the act?
The latter would of course be the fairer, rather than "change the rules after the match has started".

Also it seems that CGT paid is at the CGT rate in the year of disposal.
So if somebody bought an investment with CGT rate at 20%, and halfway through the investment it went up to 33%, they would pay 33% CGT of the whole gain, rather than 20% on the gain before the rate change, and 33% on the gain thereafter.
This of course could work in our favor, with CGT rates high at the moment.

I think that deemed disposal only applied to new investments. I don't think that existing funds were impacted.

Tax rates change. People bought property when CGT rates were much higher and sold them after the rate was reduced to 20%.

When you make an investment or contribute to an investment, you have to be aware that the tax rules may change.

Brendan

Deemed disposal was brought in in 2006 but applied to all funds liable for Exit Tax which was brought in in 2001.

The Exit tax applied to all funds setup after 2001 and the Deemed Disposal was retrofitted to these funds with the tax on the first deemed disposals due in 2009