Capital gains tax (CGT) receipts for tax year 2020/21, released by HM Revenue & Customs (HRMC), have reached their highest ever level of £14.3bn.
This represents a 42% rise from 2019/20 when it was £10.06bn. Most CGT comes from the small number of taxpayers who make the largest gains, according to HRMC. In the 2020/21 tax year, 45% of CGT came from those who made gains of £5m or more, it said. This group represents less than 1% of CGT taxpayers each year. The data also showed that in the 2020/21 tax year, as income and size of gain increased, the number of individual taxpayers decreased. In that year, 47% of gains for CGT-liable individuals came from the 13% of individuals with taxable incomes above £150,000, the additional rat...
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