Follow us
Publications Commentary Research People Events News Resources and Videos About IFS
Home Publications CIOT/IFS debate: Where next for Capital Gains Tax?

CIOT/IFS debate: Where next for Capital Gains Tax?


Watch the event here

What does the future hold for capital gains tax? Could CGT be a post-covid cash cow for the Treasury or would higher rates and smaller reliefs lead to lower investment and less revenue? How important are low rates of tax on capital gains in encouraging investment and entrepreneurialism? Should big CGT reliefs like Private Residence Relief and Business Asset Disposal Relief (previously Entrepreneurs’ Relief) get the chop?

The Office of Tax Simplification has launched a review of CGT. Can the system be simplified? Are there aspects of CGT which are needlessly complex or arbitrary? Should capital gains be taxed as income? What about capital gains on death? Should CGT be merged with inheritance tax?

These are some of the questions our expert panel explored in this highly topical debate.

The debate panel consisted of:

  • Stuart Adam, Senior Research Economist, Institute for Fiscal Studies (Download Stuart's slides)

  • Katherine Bullock, Barrister, Field Court Tax Chambers

  • Stephen Herring, Member of Advisory Council, TaxPayers Alliance, and formerly Head of Tax Policy, Institute of Directors

  • Robert Palmer, Executive Director, Tax Justice UK

The event was chaired by Helen Miller (Institute for Fiscal Studies).

More on this topic

Briefing note
Are there any common themes in how the current Scottish Government has used these powers? Who are the winners and losers from the reforms it has undertaken? What opportunities has it taken and what difficult decisions has it ducked? And what are some of the key issues for the coming years?
Press release
The Scottish Government has used its devolved tax and benefit powers to craft a more progressive system than is in place in the rest of the UK. On average, taxes are higher for high-income households, and benefits more generous for low-income households.
Newspaper article
It’s easy enough to see the politics behind Rishi Sunak’s tax increase of choice. Opaque, in the future, jam today, well-hidden pain tomorrow. The scale of the increase, though, makes the economics more concerning. Not only is he unlikely to get as much revenue as he’s banking on, he risks ...
Newspaper article