The Government will collect four times more cash from Capital Gains Tax (CGT) in 2023/24 than it did in 2013/14, according to predictions made after Wednesday’s Budget.
NFU Mutual analysis highlighted that receipts from CGT in 2013/14 totalled £3.9bn, but the Treasury has predicted this figure to soar to £15.7bn by 2023/24 – reaching £17bn a year later.
CGT already provides more cash to the Treasury than tobacco duty, according to NFU Mutual, which added it would also soon outstrip alcohol duties.
Chartered financial planner, Sean McCann, suggested CGT can catch many people “unaware” and that those selling or giving away assets often end up paying “more than they need to.”
He commented: “While much of the projected increase will be down to the slashing of Entrepreneurs’ Relief, there are other contributing factors. The changes to the tax treatment of mortgage interest on buy-to-let properties has led many to sell up triggering capital gains tax bills.
“Similarly, many long-term investors in the stock market have benefited from large gains, but the recent downturn may have encouraged them to sell exposing gains to tax. Simple steps such as sharing ownership of assets between spouses or civil partners before they are sold or staggering sales across tax years can help reduce capital gains tax bills.
“Those giving away business assets or making gifts to trusts may also be able to defer CGT. The key is to take advice before selling or making gifts.”
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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