Back in January 2018 - the Chancellor (Philip Hammond) asked the Office of Tax Simplification (OTS) to carry out a review of Inheritance Tax (IHT). The OTS subsequently issued two reports. The first on administrative aspects and the second on complexities and technical issues with the ball now in the government’s court. These recommendations are explored here.
We now have a different Chancellor, but Rishi Sunak has been back in touch with the OTS. This time regarding Capital Gains Tax (CGT).