Chancellor requests OTS review of Capital Gains Tax

The Chancellor has written to the OTS, to ask the OTS to undertake a review of Capital Gains Tax and aspects of the taxation of chargeable gains, 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 fit for purpose.

The scoping document for the review will also be published today, together with a call for evidence and an online survey.