The Office of Tax Simplification, UK, released its second report of the capital gains tax review, Simplifying practical, technical and administrative issues, on May 20, 2021.

The new report considers a range of key practical, technical and administrative capital gains tax issues. It makes 14 recommendations across a wide range of areas – from moving home to getting divorced, running or investing in a business or issues affecting land transactions. It also highlights a broader concern about the low level of public awareness of the tax, and the extent to which the administrative systems could do much more to support taxpayers.

The capital gains tax review was requested by the UK Chancellor in July 2020. The first report, ‘Simplifying by design’, was published in November 2020 and considered the policy design and principles underpinning the tax.

Download the report

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