Investors fear CGT hike as Sunak vows to get public finances on track

2020 CGT revenue reached record £9.9bn

Pedro Gonçalves
clock • 2 min read

Investors are being told to consider selling assets such as property and investments as tax experts predict capital gains tax (CGT) rates will rise next year.

Revenue from Capital Gains Tax (CGT) reached a record £9.9bn last year, even as the number of taxpayers fell, according to the latest figures from HMRC. Investors fear even higher CGT rates next year as Chancellor Rishi Sunak tries to move Britain's public finances onto a more sustainable footing after the coronavirus pandemic stimulus. "This is likely to just be the start of record years for the amount brought in by CGT and preliminary data from the ONS is already showing this will be the case. At the most recent budget, the Chancellor froze the annual CGT allowance at £12,300 until ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Changes to agricultural and business relief explained

Changes to agricultural and business relief explained

Government will publish a technical consultation in early 2025

Julia Peake
clock 11 December 2024 • 4 min read
Pension death tax – fair game?

Pension death tax – fair game?

Government took steps to reset the purpose of a pension

Lee Halpin
clock 11 December 2024 • 4 min read
Navigating the new pension and IHT terrain: Implications from the 2024 Budget

Navigating the new pension and IHT terrain: Implications from the 2024 Budget

New regulations create a more nuanced environment

Stephen Ford
clock 09 December 2024 • 5 min read