No changes to IHT, but some tinkering with CGT admin

Photo by Michal Hlaváč on Unsplash

On 30 November the Treasury responded to the Office for Tax Simplification about ongoing consultations, and has made two significant announcements.

Firstly that there are not going to be any changes to Inheritance Tax (IHT). This means, at least, that we can start planning again with some certainty.

Secondly, as regards capital gains tax (CGT), the government are going to move forward on some administrative changes to capital gains tax, but it looks like substantive changes are shelved for the short to medium term.

The following are going ahead:

  • Integration of reporting and paying CGT
  • Extending reporting deadline for sales of property to 60 days
  • Extending no gain / no loss window on marital separation
  • Extend roll over relief on compulsory purchase
  • Improve guidance

The following are going to continue to be considered:

  • Real time administrative arrangements
  • Technical changes on share pools
  • Private residence nominations
  • Corporate bond documentation requirements
  • Review EIS rules to help application to CGT


Chancellor responds to OTS reports on Inheritance Tax and Capital Gains Tax