HMRC Statistics: CGT and Tax Relief costings

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