HMRC clarifies CGT rules for clean share class transfers

There had been fears HMRC may move to tax transfers, but instead it has said the new share classes will be treated as the same asset as the old, with the CGT charge rolled over until any sale of the holdings. The change is part of regulations introduced by HMRC on Monday in connection with new tax transparent funds. HMRC said the regulations were introduced in order to facilitate the move to clean share classes. A number of platforms announced in February they were introducing online services to allow advisers to automatically calculate tax liabilities for clients, following HM Rev...