Catch you if they can: proposed changes to UK Capital Gains Tax

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UK 9.00 AM (GMT) / DUBAI 1.00 PM (GST) / HONG KONG 5.00 PM (HKT)


Last November the Office of Tax Simplification (OTS) published a report, written at the behest of the Chancellor, into the UK Capital Gains Tax regime.

Titled ‘Capital Gains Tax Review: Simplifying by design’, the OTS put forward recommendations designed to simplify CGT and address concerns that the current regime can distort behaviour to attract the most favourable tax treatment, including:

  • More closely aligning CGT with Income Tax;
  • Reducing the Annual Exempt Amount;
  • Removing the capital gains uplift on death;
  • Abolishing Investor’s Relief; and
  • Refocussing Business Asset Disposal Relief (BADR) – previously termed ‘Entrepreneurs’ Relief’ – on retirement.

These proposed reforms are likely to be of interest to owner-managers of smaller businesses, those considering gifting assets and those with second homes or investments held outside of tax-efficient products such as pensions or ISAs.

The recommendations could have serious implications for estate planning and mean that current CGT and IHT planning may be less effective or, in the worst case scenario, obsolete.

Join our webinar, for a panel discussion chaired by Stuart Stobie of the Sovereign Group to find out more about these potential changes and what they might mean for you or your clients.


Jon Davage – Head, Corporate Team – Bermans
Andy Wood – Founder & Director, ETC Tax
Simon Denton – Managing Director – Sovereign (UK) Ltd


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