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Name on Deed doesn’t necessarily mean Ownership and No Capital Gains Tax; Says ITAT

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Name on Deed doesn’t necessarily mean Ownership and No Capital Gains Tax; Says ITAT In a major decision, the Income Tax Appellate Tribunal (ITAT) Mumbai bench distinguished between a legal owner (an individual whose name is simply added to a property upon purchase, such as a spouse or brother) and a beneficial owner (to whom […]

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Accountants Halesowen | Nicklin LLP

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Capital Gains Tax clampdown – What HMRC's surge in investigations means for you

HM Revenue & Customs (HMRC) has intensified its efforts to track down unpaid Capital Gains Tax (CGT), with recent figures showing an increase in compliance activity. The number of completed CGT investigations more than trebled in the last tax year, rising from 4,564 cases in 2022/23 to 14,223 cases in 2023/24. For individuals and businesses, this sharp increase is a clear signal that HMRC is taking CGT compliance more seriously than ever, and t…

13 days ago

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