Capital gains tax investigations have clawed in 23 per cent more tax over the last two years, according to an accountancy firm.

Data obtained by UHY Hacker Young under the Freedom of Information Act shows that capital gains tax (CGT) investigations raked in £73.6 million in 2009/10 compared to just £59.7 million in 2007/8, when HMRC created its first teams to focus on CGT compliance.

UHY Hacker Young said this is all the more surprising as the amount of CGT which HMRC calculates is payable has more than halved – 53 per cent down – over the same period, falling from £5.3 billion in 2007/8 to £2.5 billion in 2009/10 as the recession took its toll.

Malcolm Winston, tax partner at UHY Hacker Young, said: “This is a massive increase in capital gains tax from enquiry work, particularly as the amount of CGT payable has collapsed as asset values slumped during the recession.

“It shows just how aggressive HMRC is becoming in tackling tax evasion in this area. HMRC established a new team specifically tasked to focus on CGT.

“With huge pressure on HMRC to maximise tax receipts to contribute to reducing the public deficit, it is likely to step up activity to another level in the coming years.”

UHY Hacker Young says that HMRC’s specialist CGT team had been trawling Land Registry data in a systematic manner, using this information to identify residential property sales by buy-to-let investors.

Mr Winston said: “Gains on property transactions are a particular area of attention for HMRC. Other enquiries involve HMRC challenging whether a property is really a taxpayer’s main residence and, therefore, exempt from CGT.”