The Board of Taxation recently published a consultation paper as part of the next phase of its review of capital gains tax (CGT) roll-overs.

The paper sets out the Board’s first-stage proposal for rationalising (and replacing) seven of the key roll-overs that deal with the most common business restructuring transactions, including mergers (in other words, takeovers), demergers, and internal reorganisations.

The closing date for submissions is 5 February 2021. The feedback obtained through this process may inform the Board’s advice to the Government. Once the public submission process is concluded, a further round of targeted consultation may be necessary.

Stakeholders are invited to provide early feedback by way of an informal email on key issues as early as possible in the consultation period to [email protected] followed by a formal submission by the deadline.

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