CGT tax rising rapidly

CGT increases by £5bn in two years Official figures from HMRC show the amount of Capital Gains Tax (CGT) collected by the Government rose from £9.8bn in 2019/20 to £14.9bn in 2021/22. Sean McCann at NFU Mutual said the increase in receipts was down to a number of factors, including changes to Business Asset Disposal Relief and the “runaway property market” which will have boosted Treasury income from sales of buy-to-let property. With the £12,300 annual CGT exemption frozen until 2026 and inflationary increases in the value of assets, the amount raised in CGT is likely to increase, he adds.

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