Jan 19, 2004 · income for most of the history of the income tax. Since 1934, capital gains tax preferences have generally been affected by means of an exclusion—that is, a portion of long-term capital gains were excluded from tax. For example, from 1982 to 1986, 60 percent of long-term capital gains were excluded from tax.
The following chart shows the history of the BT Sharesave Schemes from 1985 - 2000. NB Options granted in 1998,1999 and 2000 became exerciseable early as a result of BT's restructuring in 2001. In the event, the share price was lower than the option price during the exercise period shown so no options were exercised.