UK Scrutinizes Capital Gains Tax, Denies Big Changes Afoot
Law360 (July 15, 2020, 8:08 PM EDT) -- HM Treasury said it began reviewing how it taxes capital gains for U.K. people and companies, to ensure the current system can handle the task, but the agency insisted the move didn't signal a major policy change.
The announcement Tuesday came in conjunction with the publication of a letter from Britain's top finance official, Chancellor of the Exchequer Rishi Sunak, who asked Treasury's Office of Tax Simplification to investigate how capital gains are taxed "in relation to individuals and smaller businesses." However, he didn't specify an income threshold for either group.
The review should identify and offer advice about ways to...
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