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An analysis of the OTS Capital Gains Tax report

Published on: 03 December 2020
Published by: LexisPSL
  • An analysis of the OTS Capital Gains Tax report
  • What is the background to the publication of the OTS report?
  • What are the main recommendations in the report?
  • What are the OTS’s suggestions in relation to CGT rates?
  • What reforms does the OTS suggest to the annual exempt amount?
  • Why is the OTS in favour of removing the CGT uplift on death, and how would this work in relation to an individual’s main residence?
  • What does the OTS say about business asset disposal relief and investors’ relief, and why?
  • What are the next steps for the OTS and for the government?
  • In your view, is it likely that all or any of the recommendations will become law, and what would be the likely timescale for this?
  • If all of the recommendations were enacted, which do you consider would have the greatest impact on taxpayers?

Article summary

Tax analysis: Frederick Bjørn, partner at Payne Hicks Beach, analyses the Office for Tax Simplification’s (OTS) report on Capital Gains Tax (CGT), reviewing its suggestions, next steps and the likelihood of legislative adoption. or take a trial to read the full analysis.

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