The amount of money HMRC collected from capital gains tax (CGT) receipts hit a record high in the tax year 2019/20, bringing in £9.94 billion, figures from HMRC show.

Receipts were £243 million higher than 2018/19 when £9.7bn was collected, and higher too than in 2017/18, when £9bn was collected.

The amount of taxpayers paying CGT dropped for the second year in a row, however, from 288,000 in 2017/18 to 265,000 in 2019/20, meaning people are paying more in CGT on average than in previous years.

Figures also show that most CGT payments came from a small number of taxpayers. In the 2019/20 tax year, 41% of tax came from those who made gains of £5m or more, a group representing less than 1% of taxpayers.

Early estimates place the amount collected in the 2020/21 tax year at £10.61bn, although this figure is yet to be confirmed by HMRC.

The tax take for CGT is forecast to rise even further over the next five years to reach £14.4bn in 2025/26, according to Government estimates.

Get in touch with us to talk about your CGT planning.

Subscribe to our fortnightly newsletter

Join our mailing list to receive the latest news and updates from our team.

Thank you for subscribing