UK Government's capital gains tax haul leaps 'staggering' 43% in a year

clock • 6 min read
UK Government's capital gains tax haul leaps 'staggering' 43% in a year

The UK Government made a record haul for Capital Gains Tax (CGT) in the 2020/21 tax year, raising a total of £14.3bn from £10.06bn (2019/20) on just 323,000 taxpayers, latest figures reveal. The average bill was therefore a staggering £44,272 at a rate of tax of just under 18%.  Shaun Moore, tax and financial planning expert at Quilter said: "Three things are driving this. Firstly, as the government has pointed out, there were murmurings of CGT rates being brought in line with income ta...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login