Revising a 2008 tax return to manipulate tax rates

Posted by Markhamfc1 PM | on Thu, 28/04/2011 - 10:49 1057 2 comments | report

A client had large gains in 2008 which qualified for 10% CGT. However, he decided to claim EIS cgt deferral relief against some of the gains.

He now realizes that when the deferral crystallises it will be chargeable at 28%, so he is was wanting to go back and adjust the 2008 return by removing the EIS CGT deferral relief claimed and pay the effective extra 10% Would HMRC accept this, clearly he is only doing this to minimise his tax?

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Too late

codling | Thu, 28/04/2011 - 13:14

sorry I should have mentioned

Markhamfc1 | Thu, 28/04/2011 - 13:33