In total, that takes CGT receipts for the first ten months of the 2025-26 Tax Year to £18.8 billion, up by £6.9 billion compared to the £11.9 billion through the comparative period in 2024-25.
It means that Capital Gains Tax receipts have already registered a record for collections with two months to go, surpassing the £16.9 billion in FY2022/23. Annual receipts also look likely to exceed the OBR’s forecast of £20.3 billion made at the Autumn Budget 2025.
At the Autumn Budget 2025, the OBR revised up its forecast for CGT receipts by an additional £6.1 billion between 2025-26 and the end of the decade, with CGT also expected to raise as much as £27.3 billion by 2029-30.
Marc Acheson, global wealth specialist at Utmost commented: “Capital Gains Tax has recorded its highest ever year of receipts as tax reforms bear fruit for the Treasury. The substantial increase in this year’s collections is likely to be driven by changes made at the Autumn 2024 Budget, primarily the hike in the main rates of Capital Gains Tax.
“The adjustments made by the Government firstly mean that a greater number of individuals will be subject to CGT as their gains from property sales, investments or business disposals trip over the lower exemptions thresholds and secondly those people face higher rates of tax.
“Additionally, the government chose to freeze CGT rate thresholds and allowances for a prolonged period, meaning that inflationary increases in asset values will push more individuals and businesses into higher tax bands. With property prices, stocks, and other investments continuing to experience upward pressure, the tax burden on asset sales will increase, further elevating CGT receipts.
“Combined with the government's ongoing efforts to balance public finances, particularly after pandemic-related spending and the need to manage the cost of living crisis, the measures introduced in the Autumn 2024 Budget are likely to result in a sustained increase in CGT revenue. As individuals and businesses adapt to the new rules and make decisions around asset disposals, the government's focus on CGT as a key revenue stream will become even more apparent in the coming years.”
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