Capital gains tax receipts rise 69% in January

Capital Gains Tax (CGT) receipts reached £17bn in January 2026, a 69% increase compared with the £10bn collected the year prior, according to data from HM Revenue and Customs.

Total CGT receipts for the 12-month period ending January 2026 also rose to £20.6bn. This is a 44% increase from the £14.3bn recorded in the previous year.

The surge in receipts follows changes to CGT rates introduced in the October 2024 Budget. Analysts suggest the spike reflects investors disposing of assets in the 2024/25 tax year ahead of anticipated rate hikes.

Managing director at wealth management firm Evelyn Partners Jason Hollands said: “January’s figure includes the payment of self-assessment bills for the 2024/25 tax year so it could reflect investors – from April 2024 – disposing of assets ahead of an expected rise in CGT rates that duly arrived at the October 2024 Budget.”

“As the annual exemption had been slashed by the previous government to a meagre £3,000 by April 2024 there was – and remains – little protection against CGT for investors selling assets, which will have turbo-charged the revenues from any pre-Budget disposals.”

Hollands noted that while the figures provided a temporary boost to the Treasury, the long-term impact of higher rates remains uncertain. He added: “Final revenue data shows that CGT brought in £16.93bn in 2022/23, £14.50bn in 2023/24 and just £13.06bn in 2024/25, suggesting that many investors were reluctant to sell up with this diminished level of protection.”