The amount of capital gains tax paid to the Treasury over the past year dropped by more than £1 billion as fears grow of an exodus of wealth from Britain.
According to data from HM Revenue & Customs, capital gains tax (CGT) receipts fell to £13 billion in the 12 months to March 2025, down 10 per cent from £14.5 billion in the same period last year.
Analysts said that the fall in CGT income could reflect a trend of high-net-worth individuals leaving the UK after the non-dom regime was scrapped by Jeremy Hunt, the former Conservative chancellor, in the March 2024 budget. Others said that wealthy people may have paused sales of assets to avoid being hit by higher taxes.
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