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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Annual exempt amount: exploitation: asset splitting

 

You should not accept a claim under TCGA92/S165 if you have information which casts doubt on the authenticity of the gift. An accepted claim makes it much harder to challenge the case later. Nor should you challenge any case in which HMRC Trusts - Bootle have accepted that the gift is genuine; they are aware of this device and they already refer doubtful cases to Capital Gains Technical Group. If you learn of anything which casts doubt on the taxpayer’s intentions as regards the gift before HMRC Trusts - Bootle have accepted the point, you should let them know.