Consultations & legislation
Simplification review: capital gains rules for groups of companies
Issued: 22 February 2010
Open date: 22 February 2010
Close date: 17 May 2010
The Related Companies Simplification Review announcement at the 2007 Pre-Budget Report identified the capital gains rules for groups of companies as an area for simplification
Summary of responses
On 9 December 2010 the Government published a summary of responses to the previous consultation on simplifying the capital gains rules for groups of companies, including revised draft legislation. As announced in the Budget on 22 June 2010, the Government will simplify the capital gains rules for groups of companies in Finance Bill 2011.
Consultation document
Since the Related Companies Simplification Review was announced at the 2007 Pre-Budget Report, dialogue between business and the Government has identified the capital gains rules for groups of companies as an area where simplification would be particularly useful.
As announced at the 2009 Pre-Budget Report, the Government today published a full consultation document with detailed simplification proposals, including draft legislation, on capital losses after a change in ownership, value shifting and depreciatory transactions, and degrouping charges.
The Government would like to hear the views of business, as well as the views of representative bodies and tax advisers, on the proposals set out in this consultation document.
This consultation closed on 17 May 2010.
Media links
- Simplification review: capital gains rules for groups of companies – a consultation document (PDF 565KB)
- Consultation stage Impact Assessment: Proposals to simplify capital gains rules for groups of companies (PDF 60KB)
Related links
- Tax Simplification Reviews
- Discussion document - 07 July 2009
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