Capital Gains Receipts Hit Highest Level Since Financial Crisis in Panic Sell-Off
New data just released by HMRC shows Capital Gains Tax receipts have shot up by 16.3% in the third quarter ahead of the budget. Coming in at £572 million from July to September – compared to £492 million in 2023. Realise your gains, realise your gains…
September’s CGT receipts hit £192 million, which is the highest figure since 2008. Inheritance Tax receipts, boosted by frozen thresholds, hit £4.3 billion between April and September, a 10% increase on the year before. Evidence shows that people actually give up the ghost to avoid the death tax…
Starmer’s personal firefighting over budget speculation on an incoming Capital Gains hike hasn’t worked, then. More evidence of the Laffer Curve in action will likely present itself if Reeves chooses to hike CGT in the budget – HMRC itself predicts a 10% hike would lower revenues by £2 billion. Labour’s tax crosshairs are clearly set on growth-promoting wealth…
