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In case you missed this, back in November The Office of Tax Simplification published a report ‘simplifying by design’ that outlined a number of recommendations to overhaul Capital Gains Tax.


I’m baffled about where the simplifying features lie within this but I do see how if some of their suggestions are taken up it could certainly simplify landlords portfolios. I suspect many may be less than eager to increase them further if the measures below are implemented.


Warning, this may leave a bad taste in your mouth. 


Current Capital Gains Tax  OTS Recommendations
Basic rate taxpayers pay 18 per cent Basic rate taxpayers 20 per cent
Higher rate taxpayers pay 28 per cent Higher rate taxpayers 40 per cent


And if that isn’t depressing enough…


The annual amount that’s exempt from Capital Gains Tax, which currently stands at £12,300 could be lowered to as little as £2,000 under the proposals.

Now, dry January may be over but don’t hit the bottle yet, this is all mere conjecture, but I’m a great believer in preparing for the worst, then anything else is a bonus.  

Peppermint, anyone?