Capital gains tax receipts fall but could be set to soar after the Autumn Budget

Chancellor Rachel Reeves has refused to rule out hiking CGT. An increase to CGT rates in the Budget could push tax receipts back up

HMRC receipt with the text 'capital gains tax'
Investors are bracing themselves for an increase in capital gains tax in the Budget
(Image credit: Getty Images/stocknshares)

Poorly-performing stock markets have been blamed for a drop in capital gains tax (CGT) receipts but a rise is predicted in the coming years amid the prospect of a tax raid by the Labour government.

The latest data from HMRC shows the taxman took £14.4 billion in CGT receipts during the 2022/2023 tax year.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.

With contributions from