HMRC reported a record £24.5 billion in Capital Gains Tax (CGT) for the 2024-25 tax year. This figure marks an 89% increase in CGT liabilities compared to the year before.
The number of individuals paying CGT also rose significantly, by 45%, to a record 584,000 people. This surge has been linked to speculation preceding Labour's first Budget in October 2024.
That Budget saw the CGT rate for basic-rate taxpayers increase from 10% to 18%, and for higher-rate taxpayers from 20% to 24%. CGT is typically due on profits from selling assets like company shares or properties that are not a main residence, when total taxable gains exceed the annual £3,000 tax-free allowance.
HMRC's most recent figures for August 2026 show CGT revenue increased by £8 million to £198 million for that month. However, overall collections between April and August 2026 dropped by £8 million to £914 million compared to the same period in the previous year, suggesting a potential slowdown in the trend.
For the first time, HMRC has also published data on cryptocurrency profits, revealing that 17,600 investors declared £1.38 billion in crypto asset gains in 2024-25. Of this, 240 individuals reported over £1 million each, accounting for £717 million of the total.
HMRC is increasing its efforts against crypto-asset evasion, issuing 81,172 warnings to investors in 2025-26, up from 27,714 in 2023-24. Further enforcement is expected in 2027 when international crypto platforms will be required to share customer data with UK tax authorities.