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

Likely due to lots of people triggering gains ahead of Autumn Budget Capital gains tax (CGT) receipts were £10.3bn in January, latest figures have showed. This takes the year-to-date total to £12.1bn, compared to £12.1bn last year  and £14.4bn in 2022/23 – the all-time high. This has been said to likely due to lots of people triggering gains ahead of …

Autumn Budget 24: Labour raises CGT lower and higher rates

CGT on residential property unchanged Chancellor Rachel Reeves has raised the lower rate of capital gains tax (CGT) from 10% to 18%, and the higher rate of CGT from 20% to 24%. The rises introduced by the chancellor are up from 10% and 20% for the lower and higher rates, respectively. In her Autumn Budget today (30 October), Reeves said …