HMRC gathered 'extra £140m from CGT investigations'

Through analysing data from HMRC, Collyer Bristow has calculated £55m of the figure came from investigations relating to ‘wealthy individuals' and mid-sized businesses with the remaining £85m stemming from regular taxpayers and small businesses. The substantial numbers involved make it clear HMRC is focused on this area and taxpayers should be sure to have their affairs in order, Collyer Bristow warned. "The Revenue has kept the spotlight on CGT avoidance schemes, abuse and error over the last year," partner James Badcock said. "It has proved a fruitful area for enquiries and they ...