HMRC have released further annual statistical updates covering Capital Gains Tax and Tax Relief. We summarise some of the key points, interesting figures and the costs of providing a range of tax reliefs.
Capital Gains Tax
2020-21
- 2020-21 was a record-breaking year for Capital Gains Tax (CGT). Total CGT amounted to £14.3 billion an increase of 42%.
- 45% of the CGT take came from those who made gains of £5 million or more, this represented 1% of CGT payers.
- 8% of the CGT take came from 47,000 taxpayers disposing of assets qualifying for Business Asset Disposal Relief (BADR).
- London and the South East of England accounted for 40% of CGT taxpayers.
2021-22
- The CGT on UK property service was used by 129,000 taxpayers reporting £1.7bn of tax on residential disposals a 50% increase compared to 2020-21.
Tax relief statistics
The costs of providing key tax reliefs for the 2020-21 tax year are as follows:
| Tax relief | Cost of providing relief |
| Private Residence Relief | £28.4bn |
| Relief for pension contributions | £19.8bn |
| Research & Development: SME Scheme | £4.7bn |
| Transfers between spouses and civil partners | £3.8bn |
| Annual Investment Allowance | £3.8bn |
| Research & Development: RDEC Scheme | £3.8bn |
| Individual Savings Accounts (ISAs) | £3bn |
| Employment Allowance | £2.4bn |
| Charitable Donations including Gift Aid | £2bn |
| Residence Nil Rate Band | £1.8bn |
| Termination payment exemption | £1.8bn |
| Patent Box | £1.2bn |
| Business Property Relief | £1bn |
| IHT gifts to charities | £780m |
| Business Asset Disposal Relief | £600m |
| Marriage Allowance | £560m |
| Enterprise Investment Scheme | £500m |
| FIlm Tax Relief | £340m |
| Personal Savings Allowance | £300m |
| SDLT First-Time Buyers Relief | £190m |
External links
National statistics: Capital Gains Tax commentary
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