Engagement with HMRC on their guidance for ESC D32 -update

The CIOT is engaging with HMRC in relation to uncertainties in the application of ESC D32 and how those uncertainties might be addressed in the guidance in the Capital Gains manual. Updated draft guidance for CG65745 is currently under consideration. As part of these discussions, HMRC have confirmed that although all extra-statutory concessions are kept under review, there is no intention to withdraw ESC D32 at this time.