Capital gains tax receipts soar to record level in 2018-19

In 2018-19 HMRC raised capital gains tax of £9.5bn an increase of 6% from 2017-18. This liability was realised from 276 000 taxpayers on £62.8bn of chargeable gains. As with last year the total capital gains tax liability and gains increased but the number of taxpayers decreased. 

According to HMRC’s statistics the small number of taxpayers who make the largest gains pay the biggest slice of the tax. In 2018-19 40% of capital gains tax came from those who made gains of £5m or more. This group represents less than 1% of capital gains tax taxpayers each year.

Broadly speaking as income and size of gain increased the number of individual taxpayers decreased - 42% of gains came from 13% of individuals with taxable incomes of above £150 000 liable to capital gains tax. 

Just over a quarter of...