CGT changes: Breathing space welcomed for divorcees and homeowners

OTS’s report short of calling for complete reform

clock • 4 min read

Changes to Capital Gains Tax (CGT) proposed by the Office of Tax Simplification (OTS) have been welcomed by advisers for the extra time they may give clients, writes Jon Yarker.

Earlier this week the OTS published its second report into CGT after being requested by Chancellor Rishi Sunak to review the controversial law in 2020. Fourteen recommendations have been made by the OTS which has highlighted low levels of public awareness when it comes to this tax. A key point is the proposed change for the 150,000 individuals every year who dispose of UK residential properties. Over 85,000 of these have a taxable gain and will need to file a UK property tax return within 30 days. The OTS is now recommending extending this to 60 days or mandating estate agents and con...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

CGT receipts hit £1.13bn amid Budget speculation

CGT receipts hit £1.13bn amid Budget speculation

Questions raised over investor behaviour

Isabel Baxter
clock 21 October 2026 • 2 min read
IHT receipts hit £4.7bn as Autumn Budget approaches

IHT receipts hit £4.7bn as Autumn Budget approaches

Up £300m on the same period last year

Isabel Baxter
clock 21 October 2026 • 2 min read
Alltrust develops adviser 'toolkit' to plan for IHT on pensions

Alltrust develops adviser 'toolkit' to plan for IHT on pensions

Available through its Family Pension Trust

Sophia Panayi
clock 20 October 2026 • 2 min read