Anti Avoidance for Capital Gains Tax
Capital gains tax is levied on gains made by an individual but there are situations where instead of Capital Gains Tax (CGT), Income Tax may be charged.
For this to happened ALL of the following conditions must all met:
Please see our Capital gains tax page to know more.
The charge to Income Tax will take place in the tax year or years in which the capital amount becomes receivable or the sale or realization occurs.
There are anti-avoidance provisions that are aimed at arrangements where an individual gives up the prospect of future income but, either he or some other person, receives instead a ‘capital amount’. https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg14325
If you are looking to know about this; feel free to contact us.