28 June 2021
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4 min read
Image:
James Hay head of technical support Neil MacGillivray.
The Office of Tax Simplification (OTS) issued a second report on the 20 May 2021 in which it took the view that the current treatment of capital gains on separation and divorce is totally unsatisfactory and needs to change. Neil MacGillivray contemplates if capital gains tax on separation and divorce is set to become a thing of the past...
There were more than 91,000 divorces in 2018, and for tax year 2018/19 at least £8 million was paid in capital gains tax (CGT) by just under 300 taxpayers who stated divorce or separation as the reason...
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