23 Jan 2026Data published by HMRC has revealed that Capital Gains Tax (CGT) receipts fell by 8.4% to £13.646 billion in 2025, down from £14.9 billion in 2024. Experts have suggested that the fall could be partly attributed to investors delaying disposals as a result of operating in a difficult tax environment. The data showed that CGT receipts totalled £16.93 billion in 2022/23. According to wealth management experts, investors are changing the timing of their decisions in anticipation of CGT changes. At Chancellor Rachel Reeves' first Budget in 2024, CGT rates were increased and higher rates took effect immediately. Experts have proposed that the impact of this change is yet to be felt.