The UK Office for Tax Simplification has issued the first report for its Capital Gains Tax review. --- Details This new report, written in response to the Chancellor's request in July 2020, is the first that the Office of Tax Simplification (OTS) has devoted to Capital Gains Tax. The Chancellor asked the OTS, in particular, to 'identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort behaviour or do not meet their policy intent.' The OTS's extensive consultation revealed a range of areas in which Capital Gains Tax is counter-intuitive and creates...