Govt tweaks CGT regime but leaves IHT untouched for now

Response to OTS recommendations

Jenna Brown
clock • 9 min read

The government has accepted five recommendations from the Office for Tax Simplification (OTS) on issues relating to capital gains tax (CGT) in a bid to “provide some practical simplifications for taxpayers”.

In its official response to the OTS reports into the operation of CGT and inheritance tax (IHT), MP Lucy Frazer said officials were also considering the details of five more of the recommendations set out and would keep them under review. The five proposals the government accepted are listed in a table below. Smith & Williamson tax partner Julia Rosenbloom said some of the agreed changes should be particularly welcomed. "Not least the confirmation from government that ‘the no gain no loss window' on separation and divorce should be extended," she said. "At the moment, transfers betwee...

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