Reeves urged to implement CGT and inheritance tax changes to address £22bn fiscal hole

Resolution Foundation recommendations

Rachel Reeves has been urged by the Resolution Foundation think tank to implement a series of reforms of inheritance tax, capital gains tax (CGT) and National Insurance on employers’ pension contributions, as the chancellor works to address the £22bn fiscal deficit in her upcoming Autumn Budget.

In its Revenue and reform report released today (10 September), the think tank said its three proposed reforms could raise over £20bn while still meeting the ‘triple tax test' of increasing tax system efficiency, not breaching manifesto commitments and allowing those with the "broadest shoulders" to take the most significant hit.  CGT in particular "should be a key focus" for the chancellor, according to the Resolution Foundation, by aligning marginal CGT rates for shares with dividend tax rates, as well as taxing capital gains from property like wages.  "In addition, there should be ...