Treasury bags £10.3bn in CGT receipts as Budget changes bite

Likely due to lots of people triggering gains ahead of Autumn Budget (Source: Professional Adviser)

Capital Gains Tax (CGT) receipts reached £10.3bn in January, according to the latest figures.

This brings the total for the year so far to £12.1bn, matching last year’s figure but down from the all-time high of £14.4bn in 2022/23.

The increase is believed to be driven by many individuals realizing gains ahead of the Autumn Budget.

Marc Acheson, global wealth specialist at Utmost Wealth Solutions, noted that this underscores another fiscal revenue stream that is “delivering record sums” to the Treasury.

The rise in CGT receipts was likely driven by investors realizing gains before the Autumn Budget. Shaun Moore of Quilter noted that higher CGT rates and a reduced annual exempt amount—now £3,000, down from £12,300—are pushing more taxpayers into liability, with CGT revenue expected to rise by £1.5bn.

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