OTS to review Capital Gains Tax

The Chancellor of the Exchequer has asked the Office of Tax Simplification (OTS) to carry out a review of Capital Gains Tax, in relation to individuals and smaller businesses.

As well as looking at opportunities to simplify administration and the impact of technical issues, the review will explore areas where the present rules can distort behaviour or do not meet their policy intent, to help ensure the system is for purpose.

The OTS now wants to hear directly from individuals and businesses, as well as professional advisers and representative bodies, about which aspects of CGT are particularly complex and hard to get right, and hear any suggestions for improvements.

To help the process the OTS has published an online survey and call for evidence – go to https://www.smartsurvey.co.uk/s/3HRSVY/.

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