HMRC has concluded its two-year review of family investment companies and has wound up the unit after finding ‘no evidence to suggest those using family investment companies were more inclined towards avoidance’. HMRC are now looking at family investment companies as ‘business as usual rather than having a dedicated team.

HMRC stated that no staff was hired to specifically look into family investment companies and that it was existing members of staff that came together to look at the issue as part of their current roles.