Market leading insight for tax experts
View online issue

HMRC success against CGT avoidance

In the year to March 2015 HMRC collected an additional £154m from investigations into unpaid CGT according to London-based law firm Collyer Bristow. Local compliance teams accounted for £115m of this amount while the other £39m was recouped by HMRC’s counter avoidance directorate which targets marketed tax avoidance schemes. James Badcock partner at Collyer Bristow noted HMRC’s ‘real success’ against CGT avoidance schemes in recent years as well as against lower-level abuse and error.

The reduction in CGT rates announced in the March 2016 Budget does not apply to those investing in second homes or properties. ‘Investors will be more keen than ever to ensure tax-efficiency’ commented James Badcock ‘but taxpayers must seek advice and ensure that they do not cross the line into what could constitute abusive avoidance or evasion’.

If you are not a subscriber, subscribe now to read this content.
If you are already a subscriber, sign in
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.