OTS
UK government to move tax year end date?
Independent body will assess implications of change to 31 March or 31 December
CGT needs ‘complete overhaul’ not ‘minor’ changes
As UK government body recommends tax payment extensions for divorcees and property buyers
‘Counter-intuitive’ capital gains tax creates ‘odd incentives’
But ‘tinkering with the CGT system’ could have knock-on effects for other areas like IHT
IFAs not sold on Office of Tax Simplification’s IHT proposals
Only 19% believe they will have a positive impact if introduced
Best Practice | 21 Feb 18
Simplified IHT rules could go live in 2019
The UK’s Office of Tax Simplification (OTS) will publish a report on the processes and complexities around inheritance tax (IHT) in autumn 2018, opening the door to the possibility that IHT could be simplified within the next two years.