Capital gains tax made easier?

Bill Dodwell considers the OTS’s report on how to simplify capital gains tax by focusing on a range of practical, technical and administrative issues

In July 2020, Chancellor Rishi Sunak requested that the Office of Tax Simplification review capital gains tax: 

‘This review should identify opportunities relating to administrative and technical issues, as well as areas where the present rules can distort behaviour or do not meet their policy intent. In particular, I would be interested in any proposals from the OTS on the regime of allowances, exemptions, reliefs and the treatment of losses within CGT, and the interactions of how gains are taxed compared to other types of income.’