The Office of Tax Simplification’s proposals to reform Capital Gains Tax (CGT) are “dangerous and are a far cry from tax simplification.”

Nimesh Shah, chief executive of accountancy firm Blick Rotherberg, said: The OTS’ report, whose proposals could raise up to £14 billion in tax, contains “a dangerous set of proposals to radically reform capital gains.”

The standout proposal is to align CGT closer to Income Tax. This would see the maximum rate i...