CGT and IHT changes suggested by the OTS

[scrumpyjack]

The FT reports that the Treasury has rejected the changes to IHT and CGT proposed by the Office for Tax Simplification (a misnomer if ever there was one!).

https://www.ft.com/content/43a7c941-e74 ... 611be77291

They suggest this is not a permanent rejection but means nothing will change this side of the next election.

Lucy Frazer, financial secretary to the Treasury wrote that these reforms would involve a number of wider policy trade-offs and affect the additional administrative burden on HMRC

[Lootman]

Well that is good news. Almost invariably I prefer no change to tax rules. Even if I don't like the tax rules, and I hate the IHT rules, I have zero confidence that any change by any party would make them better. So leave them alone.

Whilst I am just fine with the CGT rules the way they are. I have little incentive to consider tax avoidance regarding CGT, given that the rates are just 0%, 10% and 20% for shares. Given that, the annual CGT-free allowance and the fairly generous subscription rules for ISAs, I am convinced that any change would be for the worse.

Politicians, resist the temptation to constantly fiddle and tinker with these things, so we can plan for the future with at least some confidence.

[JohnB]

https://www.msn.com/en-gb/money/other/r ... ar-AARkXIf, same subject, not behind paywall