Capital gains tax reform & tax year changes: FTAdviser talks to the Office of Tax Simplification

Over the course of the past 18 months, the government has spent a lot of money to get the UK through the Covid-19 pandemic. But Rishi Sunak, the chancellor of the Exchequer, has made repeatedly clear that the bills we have racked up during this period will soon be coming due.

This puts into sharper relief the debates around tax which have been rumbling on in the background for several years. Reforms to capital gains tax, inheritance tax and pensions tax relief are often discussed, but might they finally become reality?

This week FTAdviser's digital editor Damian Fantato is joined by the Office of Tax Simplification's Bill Dodwell to discuss some of the recent reports the body has published for HM Treasury on CGT and IHT, as well as its recent proposals to move the beginning and end of the tax year.

They discuss whether the OTS proposals on CGT would lead to a significant tax rise and whether they will lead to more people paying that tax. They also discuss whether the OTS will be pursuing the work is has considered conducting on the taxation of trusts.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

Hosted on Acast. See acast.com/privacy for more information.