HMRC NETS £110m FROM CGT UNDERPAYMENTS

HMRC collected £110m from investigations into underpayments of CGT in 2012/13.  The amount raised is a third higher than in the previous tax year.  HMRC’s clampdown targeted buy-to-let landlords and owners of multiple homes.  Claims for exemption on the sale of a property under principal private residence relief are under particular scrutiny.  Total receipts from CGT were £3.9bn in 2012/13