CGT changes give divorcees and homeowners 'welcome' breathing space

clock • 5 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. 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 ta...

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