Overhaul of Capital Gains and Inheritance Tax on the cards?

Capital Gains Tax (CGT), Inheritance Tax (IHT) and entrepreneurs relief could be reformed as a part of a project by the Office of Tax Simplification (OTS). The OTS was launched last year by the new coalition government and provides the government with independent advice on simplifying the tax system in the UK. Evidence Giving evidence to the House of Commons Treasury Committee, John Whiting (right), tax director of the OTS, said that IHT, CGT and stamp duty could be part of a review in 2012. Whiting said that the review could follow the suggestions of the Mirrless Review, carried out by the Institute ...