Over 14,223 investigations into suspected underpayment of capital gains tax (CGT) were completed by HMRC in the last 12 months, up more than threefold from 4,564 in the previous year,  revealed analysis by UHY Hacker Young.

A total of £202.4m in underpaid CGT tax was recovered from those investigations in the last year, albeit only generating increase from £180.8m in the previous 12 months, despite spreading the net wider.

As part of its wider efforts to ensure CGT compliance, HMRC has been reviewing the tax affairs of small-scale amateur traders and investors who have bought into speculative assets like cryptocurrency and meme-shares.