Rachel Reeves's Capital Gains Tax Hike 'Backfires' as Treasury Loses £1.7bn Amid Wealth Tax Fears

Rachel Reeves's capital gains tax hike 'backfires' as Treasury loses £1.7bn amid wealth tax fears

Capital Gains Tax (CGT) revenues have plunged following Rachel Reeves's sweeping reforms, and the Treasury now faces questions over whether its strategy has failed

CGT Receipts: why it’s premature to say the chancellor’s tax hike has backfired – analysis by Charles Stanley - IFA Magazine

Written by Rob Morgan, Chief Investment Analyst at Charles Stanley Recent data shows CGT receipts on a declining trend – from nearly £17 billion in 2022-23 to £14.5 billion in 2023-24, and to £13.1 billion in 2024-25. It is important to note that CGT receipts mostly correspond to the year after an asset is sold. For most assets, people report through a Self Assessment tax return and pay by 31 January following the end of the tax year in which th…

Rachel Reeves Wants To Tax Pensioners More

Rachel Reeves ‘considering tax raid on pensioners’ as she defies Labour left’s calls for wealth tax Hey everyone! Rachel Reeves is at it again. So, here’s the buzz. Chancellor Rachel Reeves is reportedly thinking about a tax change that has stirred up quite a conversation among Labour MPs. So, What’s happening? She’s considering a tax […]

Reeves’s capital gains tax changes ‘backfire’ as Treasury receipts fall sharply

Capital gains tax rates were increased in the 2024 Budget but fresh data suggests the policy is failing to boost government coffers. Could it put chancellor Rachel Reeves off a wealth tax?

HMRC tax take data show CGT changes have backfired as receipts fall sharply