Capital Gains Tax commentary
Updated 27 August 2026
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Key points
Record amounts of capital gains and tax were recorded in the 2024 to 2025 tax year. The total amount of gains reported was £127 billion, an 82% increase from the previous year, and the total amount of Capital Gains Tax (CGT) liabilities was £24.2 billion, an 89% increase.
The increase to the main rates of CGT midway through the 2024 to 2025 tax year, consecutive yearly reductions to the Annual Exempt Amount (AEA, the tax-free allowance for CGT), the announcement that Business Asset Disposal Relief (BADR) rate would increase from April 2025, and speculation around increases in CGT rates before Autumn Budget 2024 all contributed to this increase.
The total number of CGT taxpayers in the 2024 to 2025 tax year increased by 45% from the previous year to an all-time high of 584,000. The reduction in the AEA on 6 April 2024 contributed to this increase by bringing up to 76,000 additional taxpayers into the scope of CGT. Up to 163,000 taxpayers were brought into the scope of CGT by the consecutive reductions in the AEA implemented on 6 April 2023 and 6 April 2024.
Most CGT comes from the small number of taxpayers who make the largest gains. In the 2024 to 2025 tax year, 45% of CGT came from those who made gains of £5 million or more. This group represents less than 1% of CGT taxpayers each year.
In the 2024 to 2025 tax year, broadly speaking, as income and size of gain increased, the number of individual taxpayers decreased. In that year, 52% of gains for CGT-liable individuals came from the 17% of individuals with taxable incomes above £125,140, the additional rate threshold for Income Tax.
8% of CGT came from disposals that qualified for BADR. BADR was claimed by 61,000 taxpayers on £18.5 billion of gains in the 2024 to 2025 tax year, resulting in CGT liabilities of £1.8 billion.
London and the South East of England accounted for around half of total gains (49%) and CGT liability (50%) in the 2024 to 2025 tax year. These figures are broadly constant over time and there is a stable regional distribution overall.
More detailed information is now available for the 2023 to 2024 tax year. In that year, CGT taxpayers disposed of 2.7 million assets worth £194 billion and realised gains of £70 billion. Financial assets accounted for 92% of disposals, 78% of disposal proceeds, and 79% of gains.
In the 2025 to 2026 tax year, 156,000 taxpayers filed a CGT on UK Property return, reporting 173,000 disposals and £8.9 billion gains on residential property for a total CGT liability of £1.9 billion. All of these figures represent a decrease from the previous year.
In the 2024 to 2025 tax year 3,890 individuals reported £5.4 billion of carried interest gains, resulting in tax liabilities of £1.4 billion. These are all the largest figures recorded.
Cryptoasset disposals are reported separately by taxpayers for the first time in the 2024 to 2025 tax year. In this year, 17,600 individuals reported total gains on cryptoassets of £1.38 billion.
About this release
This publication is the annual update of the ‘Capital Gains Tax statistics’. The statistics include information on the number of capital gains taxpayers, capital gains, tax liabilities, Business Asset Disposal Relief, and carried interest taken from Self Assessment returns, as well as breakdowns by size of gain, taxable income, region, and age up to the 2024 to 2025 tax year. Only information from taxpayers who have a CGT liability is included in the publication.
Provisional figures from the 2025 publication have been revised with the latest numbers. Figures for the 2023 to 2024 tax year have seen larger revisions than usual due to a correction of a data processing issue. The larger than usual revision applies to the figures for the 2023 to 2024 tax year in Tables 1-6, 8a and 9.
Breakdowns by holding period and type of asset disposed of are provided for the 2023 to 2024 tax year from sample information in Table 7.
Statistics on residential property disposals, gains, and tax are provided and include information on disposals reported through the CGT on UK Property service up to the 2025 to 2026 tax year in Table 8.
The 2026 publication also includes information on cryptoasset disposals and gains for the first time in Table 10.
Data sources, definitions, and methods are described in more detail in the Background Quality Report.
The Capital Gains Tax statistics are accredited official statistics.
Commentary
This section provides the headline statistics about CGT taxpayers. Tables 1 to 6, 8a, 9 and 10 are based on Self Assessment and CGT on UK Property returns reporting a CGT liability, and include information provided for tax years up to 2024 to 2025. Tables 8b and 8c are solely based on CGT on UK Property returns and include information up to the 2025 to 2026 tax year. Table 7 is based on a sample of asset-level information from Self Assessment and CGT on UK Property returns submitted for the 2023 to 2024 tax year.
Taxpayer numbers, gains and tax liabilities – Table 1
Table 1 and Charts 1 to 4 show the long-term trend in key statistics for CGT.
Chart 1: Amounts of CGT liabilities by year of disposal from the 1987 to 1988 tax year.
The main changes to CGT highlighted in Chart 1 are as follows:
- 1999 to 2000: CGT rates partially aligned with rates on savings income
- 2000 to 2001: Taper Relief now matures after 4 years
- 2002 to 2003: Taper Relief now matures after 2 years
- 2008 to 2009: single 18% rate, Entrepreneurs’ Relief replaces taper relief and the indexation allowance is withdrawn
- 2010 to 2011: higher CGT rate of 28% introduced
- 2016 to 2017: rates reduced to 10% and 20% except for gains on carried interest and residential property
- 2020 to 2021: BADR lifetime limit reduced from £10m to £1m. Lifetime gains above £1m charged at the main CGT rates
- 2023 to 2024: AEA reduced further to £3,000 for individuals and £1,500 for most trusts, rate for residential property reduced to 24% on 6 April 2024, and main rates increased to 18/24% on 30 October 2024
- 2024 to 2025: AEA reduced from £12,300 to £6,000 for individuals and from £6,150 to £3,000 for most trusts
Record amounts of capital gains and tax were reported in the 2024 to 2025 tax year. The total amount of gains was £127 billion, an 82% increase from the 2023 to 2024 tax year. The total amount of CGT liabilities was £24.2 billion, an 89% increase from the previous year. In the 2024 to 2025 tax year, the number of taxpayers also increased by 45% from the previous year to an all-time high of 584,000.
Several factors relating to policy changes contributed to these increases.
Speculation around CGT rate increases
There was public speculation ahead of Autumn Budget 2024 that the rates of CGT would be increased. As a result, some of the increase in taxpayers, gains, and liabilities can be attributed taxpayers bringing forward the timing disposals to before the Budget date of 30 October 2024.
CGT main rates increase
At Autumn Budget 2024, the Chancellor announced an increase in the main rates of CGT from 10% and 20% to 18% and 24%. This change contributes to an increase in the amount of CGT charged in the 2024 to 2025 tax year as it applied to gains from disposals made on or after 30 October 2024.
Business Assets Disposal Relief (BADR) rate increase
At Autumn Budget 2024, the Chancellor announced that the tax rate at which gains qualifying for BADR are charged would increase from 10% to 14% from 6 April 2025 and again to 18% from 6 April 2026. Both increases were announced prior to implementation, giving taxpayers an opportunity to bring forward disposals to be taxed at the lower 10% rate. This contributed to an increase in taxpayers making BADR-eligible disposals in the 2024 to 2025 tax year as well as corresponding increases in gains and tax. More detailed statistics on BADR-eligible disposals are available in Table 4.
Annual Exempt Amount (AEA) reduction
From 6 April 2024, the AEA for CGT was reduced from £6,000 to £3,000 for individuals, personal representatives and some types of trusts, and from £3,000 to £1,500 for most trusts.
Tables 2.1a and 2.1b show that this policy change has resulted in up to 73,000 individuals and up to 3,000 trusts being brought into the scope of CGT. These additional 76,000 taxpayers represent around 42% of the overall 181,000 increase in the number of CGT taxpayers between the 2023 to 2024 and 2024 to 2025 tax years. However, these taxpayers contributed less than 1% of the overall increase in gains and CGT liabilities. Further breakdowns by size of gain are available in Table 2.
This total number of CGT taxpayers is around 1.5% of the number of people who pay Income Tax.
Aside from the policies described above, changes in gains and CGT reported can also be attributed to several factors including the purchase price of assets, allowable costs, length of ownership, and wider economic conditions.
Chart 2: Amounts of gain by year of disposal from the 2008 to 2009 tax year.
| Tax year of disposal |
Amounts of tax (£bn) |
|---|---|
| 2008 to 2009 | 15,619 |
| 2009 to 2010 | 20,666 |
| 2010 to 2011 | 25,625 |
| 2011 to 2012 | 23,294 |
| 2012 to 2013 | 23,479 |
| 2013 to 2014 | 32,625 |
| 2014 to 2015 | 41,230 |
| 2015 to 2016 | 49,779 |
| 2016 to 2017 | 51,531 |
| 2017 to 2018 | 59,067 |
| 2018 to 2019 | 64,312 |
| 2019 to 2020 | 66,758 |
| 2020 to 2021 | 80,971 |
| 2021 to 2022 | 94,183 |
| 2022 to 2023 | 81,964 |
| 2023 to 2024 | 69,861 |
| 2024 to 2025 | 127,316 |
Chart 3: Amounts of CGT liabilities by year of disposal from the 2008 to 2009 tax year.
| Tax year of disposal |
Amounts of tax (£bn) |
|---|---|
| 2008 to 2009 | 2,548 |
| 2009 to 2010 | 3,402 |
| 2010 to 2011 | 4,313 |
| 2011 to 2012 | 3,847 |
| 2012 to 2013 | 3,836 |
| 2013 to 2014 | 5,591 |
| 2014 to 2015 | 7,014 |
| 2015 to 2016 | 8,513 |
| 2016 to 2017 | 7,802 |
| 2017 to 2018 | 9,002 |
| 2018 to 2019 | 9,743 |
| 2019 to 2020 | 10,095 |
| 2020 to 2021 | 14,561 |
| 2021 to 2022 | 17,035 |
| 2022 to 2023 | 14,681 |
| 2023 to 2024 | 12,773 |
| 2024 to 2025 | 24,169 |
Chart 4: Number of taxpayers liable to CGT by year of disposal from the 2008 to 2009 tax year.
| Tax year of disposal |
Number of taxpayers (thousands) |
|---|---|
| 2008 to 2009 | 146 |
| 2009 to 2010 | 168 |
| 2010 to 2011 | 188 |
| 2011 to 2012 | 163 |
| 2012 to 2013 | 171 |
| 2013 to 2014 | 215 |
| 2014 to 2015 | 246 |
| 2015 to 2016 | 263 |
| 2016 to 2017 | 274 |
| 2017 to 2018 | 288 |
| 2018 to 2019 | 282 |
| 2019 to 2020 | 272 |
| 2020 to 2021 | 329 |
| 2021 to 2022 | 405 |
| 2022 to 2023 | 377 |
| 2023 to 2024 | 403 |
| 2024 to 2025 | 584 |
Methodology – Definition of gains over time
In Table 1 users should be aware that the definition of gains is not comparable over the long time series provided. Only gains from the 2008 to 2009 tax year onwards are reported on a consistent basis.
For years up to the 1997 to 1998 tax year, ’Gains’ are defined as the sum of chargeable gains from all disposals made by a taxpayer—having deducted indexation allowance, other reliefs and in-year capital losses, but before deducting the AEA, past capital losses, or trading losses.
For years from the 1998 to 1999 tax year, ’Gains’ refers to total taxable gains net of reliefs available at disposal, and after deduction of in-year capital losses, trading losses, past capital losses and taper relief, but before the deduction of the AEA.
Gains between the 1998 to 1999 tax year and the 2007 to 2008 tax year are not comparable to subsequent years. This is because taper relief was abolished in the 2008 to 2009 tax year. Taper relief reduced the gains which were taxable by a percentage which was determined by how long the asset had been held.
Size of gain – Table 2
Table 2 gives a further breakdown of the figures in Table 1 by the size of capital gain for the four most recent tax years. For the 2 most recent tax years (2024 to 2025 in Table 2.1 and 2023 to 2024 in Table 2.2), we have split this information into separate tables for individuals (Tables 2.1a and 2.2a) and trusts (Tables 2.1b and 2.2b) and included new gain bands based on the recent changes to the AEA (see ‘Table A1: Supporting tables’ for AEA thresholds by tax year).
AEA reduction
The new gain bands in Table 2.1a show that up to 73,000 individuals were brought into the scope of CGT as a result of the reduction of the AEA in the 2024 to 2025 tax year as their gains were above the new threshold of £3,000 and below the old threshold of £6,000. These individuals reported gains of £311 million and CGT liabilities of £17 million.
Likewise, the new gain bands in Table 2.1b show that up to 3,000 trusts with gains above the new £1,500 threshold and below the old £3,000 threshold were brought into CGT in the 2024 to 2025 tax year. These trusts reported gains of £6 million and CGT liabilities of £1 million.
Overall, Tables 2.1a and 2.1b show that up to 163,000 taxpayers were brought into the scope of CGT in the 2024 to 2025 tax year by the consecutive reductions in the AEA implemented on 6 April 2023 and 6 April 2024. These taxpayers reported gains of £1.1 billion and CGT liabilities of £108 million.
From the 2024 to 2025 tax year onwards, individuals with gains above the old AEA (in the 2022 to 2023 tax year) of £12,300 are charged CGT on an additional £9,300 of gains. Likewise, trusts with gains above the old AEA for trusts of £6,150 are charged CGT on an additional £4,650 of gains. This has brought in approximately £3.8 billion additional gains into the scope of CGT in the 2024 to 2025 tax year.
Altogether in the 2024 to 2025 tax year, the consecutive reductions to the AEA have resulted in an additional £4.8 billion of gains being charged to CGT. This is the total of the £1.1 billion from taxpayers with gains below the old AEA in the 2022 to 2023 tax year and the £3.8 billion from taxpayers with gains above it (these numbers do not sum as presented due to rounding).
A small proportion of taxpayers are included in the bands below the AEA due to specific taxpayer circumstances and not as a result of the reduction in the AEA. Taxpayers with gains below the AEA threshold may report additional tax liabilities through adjustments and would be classified in the lowest gains categories presented in Tables 2 and 3.
CGT by size of gain
In the 2024 to 2025 tax year, the number of taxpayers with gains above the previous year’s AEA thresholds of £6,000 for individuals and £3,000 for trusts also increased by 105,000. Factors contributing to this increase are discussed in the commentary for Table 1.
Most CGT comes from the relatively small number of taxpayers who made the largest gains. In the 2024 to 2025 tax year, 45% of CGT came from individuals and trusts who made gains of £5 million or more. This percentage remains relatively stable over time and the group represents less than 1% of CGT taxpayers each year. By comparison, the top 1% of Income Tax payers in the 2023 to 2024 tax year paid an estimated 27% of all Income Tax.
Approximately half of all CGT taxpayers have gains under £25,000. This group contributes less than 2% of total CGT.
The amounts of gains and tax reported in the 2024 to 2025 tax year increased across the whole distribution of gains. However, 72% of the £57 billion increase in gains reported came from 19,000 taxpayers reporting gains of over £1 million. These taxpayers also contributed 74% of the £11.4 billion increase in CGT liabilities between those years.
Size of gain by income – Table 3
Table 3 shows the distribution of taxpayer numbers and gains broken down by size of capital gain and taxable income for individuals. These tables do not include trusts.
For the 2024 to 2025 tax year presented in Table 3.1, the income threshold of £150,000 has been replaced with a threshold of £125,140 to reflect the new additional rate threshold for Income Tax introduced in April 2023. The thresholds for the 2023 to 2024 tax year in Table 3.2 have also been revised from the 2025 publication to use the new threshold.
There is a pattern to the distribution, with larger numbers of individuals making smaller gains falling into the lower income categories and, as income and size of gain increase, the number of CGT taxpayers decreases. Individuals making large gains are also more likely to have higher incomes—individuals with gains in excess of £1 million are most likely to have incomes of at least £200,000.
In the 2024 to 2025 tax year, individuals with gains under £50,000 and taxable income below £37,700 contributed 3% of total capital gains and represented 37% of those liable to CGT. In this year, 55% of gains for individuals came from the 17% of CGT-liable individuals with taxable incomes above £125,140—the additional rate threshold for Income Tax. Furthermore, 47% of overall gains were made by those with gains in excess of £1 million and income in excess of £125,140. This group represents less than 2% of individuals liable to CGT.
The amount of taxable income as presented in Table 3 cannot be directly used to determine a taxpayer’s Income Tax band. However, it is sufficient to allow us to see that higher and additional rate taxpayers tend to realise greater gains than those with lower taxable incomes. In the 2024 to 2025 tax year, an estimated 17% of all individuals paying Income Tax were higher rate taxpayers, whereas 30% of CGT-liable individuals had a taxable income of between £37,700 and £125,140. In that year, approximately 3% of all individuals paying Income Tax are estimated to be additional rate taxpayers, whereas 17% of CGT-liable individuals had a taxable income greater than £125,140.
Business Asset Disposal Relief and Investors’ Relief – Table 4
Table 4 shows the distribution of Business Asset Disposal Relief (BADR) and Investors’ Relief claims broken down by size of capital gain for individuals and trusts. BADR was renamed from Entrepreneurs’ Relief on 6 April 2020.
Investors’ Relief was introduced in the 2019 to 2020 tax year. Claims for Investors’ Relief make up only a very small proportion of totals presented in the tables.
At Autumn Budget 2024, the Chancellor announced that the tax rate at which gains qualifying for BADR are charged would increase from 10% to 14% from April 2025 and again to 18% from April 2026. Both increases were announced prior to implementation giving taxpayers an opportunity to bring forward disposals to benefit from the lower 10% rate. This contributed to a 45% increase in the number of taxpayers making BADR-eligible disposals in the 2024 to 2025 tax year from 42,000 to 61,000.
Gains and tax have likewise increased. BADR was claimed on £18.5 billion of gains in the 2024 to 2025 tax year resulting in liabilities of £1.8 billion. This is an increase of 67% and 69% respectively.
Gains eligible for BADR are concentrated amongst individuals who have larger gains. Among all individuals, 69% of gains and 70% of tax paid at the BADR rate come from the 25% of individuals with qualifying gains of £500,000 or more.
Trusts have historically made up a small percentage of total BADR tax liability. Trusts accounted for less than 1% of total gains and tax paid at the BADR rate in all tax years presented.
Approximately 8% of the total CGT in the 2024 to 2025 tax year came from disposals qualifying for BADR.
Methodology - Definition of gains in Table 4
Gains reported in the BADR and Investors’ Relief tables are before the deduction of losses and the AEA, as reported by taxpayers in the relevant boxes on the SA108 Self Assessment tax return pages.
The statistics for claims of BADR and Investors’ Relief are combined. This is to improve reporting accuracy to account for cases where information provided by the taxpayer cannot be used to determine which of the 2 reliefs are being claimed. This is discussed in further detail in the Background Quality Report.
Regional and country statistics – Table 5
Table 5 shows the amount of gains and tax liabilities for individuals by region and UK country. This table is based on the postcode of the residence of the individual, and therefore not necessarily the location of the asset which has been disposed.
In all years presented, the South East of England and London had the highest number of CGT taxpayers. Taken together, these 2 regions made up 40% of individuals who were liable to CGT in the UK in the 2024 to 2025 tax year. The North East of England and Northern Ireland had the fewest taxpayers.
London and the South East of England accounted for approximately half of the total gains (49%) and CGT liability (50%) in the 2024 to 2025 tax year. These figures are broadly constant over time and there is a stable regional distribution overall.
Age statistics – Table 6
Table 6 shows the number of taxpayers and amounts of gains and tax by age category.
The 55 to 64 age group has consistently had the most CGT taxpayers and, along with the 45 to 54 age group, has the most gains and liabilities. These 2 age groups represented 44% of the CGT-liable population and contributed around 56% of the gains and tax in the 2024 to 2025 tax year. The older and younger age categories have the least amounts of gains and tax in this year. These patterns are consistent throughout the period covered in the tables.
Statistics by asset type in the 2023 to 2024 tax year – Table 7
Table 7 shows the number of disposals and amounts of disposal proceeds and gains arising in the 2023 to 2024 tax year from sample information, with breakdowns by type of asset and holding period.
Table 7.1 shows that, in total, CGT payers disposed of 2.7 million assets worth £194 billion with gains of £70 billion in the 2023 to 2024 tax year. This represents an 85% increase in number of asset disposals and a 15% decrease in total gains from the 2022 to 2023 tax year.
Financial assets
In the 2023 to 2024 tax year, financial assets accounted for 92% of all disposals, 78% of the total disposal proceeds and 79% of total gains. These proportions have increased from the previous year.
The overall increase in the number of CGT-liable disposals in the 2023 to 2024 tax year was due to more financial assets being disposed of. The number of financial assets disposed of was 2.5 million, an increase of 105%. Disposals of ‘Other financial assets’—assets that are not listed or unlisted shares—increased by 153% from the previous year.
The disposal proceeds for financial assets increased by 14% to £151 billion while the gains for financial assets decreased by 12% to £55 billion.
The number of disposals and amounts of disposal proceeds and gains all increased for listed shares from the previous year. For unlisted shares, proceeds and gains fell despite the number of disposals rising. Unlisted shares account for 32% of disposal proceeds and 60% of gains across all financial assets. Gains as a percentage of disposal proceeds for unlisted shares are particularly high at 68%.
Non-financial assets
Residential land and buildings were the largest component of non-financial assets in the 2023 to 2024 tax year and accounted for 83% of disposals, 82% of the total value of all disposals, and 66% of gains across this category. The number of residential property disposals, disposal proceeds and gains all decreased on the previous year.
Holding periods
Of assets with known holding periods, 77% of listed shares and 61% of unlisted shares were sold within the first 5 years. Both are higher than the proportion of residential land and buildings and agricultural, commercial, or industrial land and buildings held for 5 years or less, at 14% and 20% respectively.
The median average holding period is between one and 2 years for listed shares and between 2 and 3 years for unlisted shares. The median average holding period is between 10 and 15 years for residential land and buildings and between 15 and 20 years for agricultural, commercial, or industrial land and buildings.
Methodology - Table 7
Table 7 is based on information on taxpayers with a CGT liability which is derived from an annual stratified sample of additional information pages submitted alongside Self Assessment capital gains schedules, as well as administrative data collected from CGT on UK Property returns.
For the annual sample of Self Assessment additional information pages, detailed calculations of gains are obtained for each case sampled. Typically, these show the amounts arising from disposals of different types of assets, the period for which they were held, the cost of acquiring each asset, enhancement expenditure (e.g. expenditure on the development of a house), the sale price and cost of disposal, and any other allowances or reliefs. The total capital gains value estimated from the sample is then scaled to match the total capital gains of all CGT Self Assessment returns for the tax year.
Equivalent asset-level data is also collected from approximately 47,000 CGT on UK Property returns submitted by taxpayers who did not also submit a Self Assessment return.
The 2 data sources are then combined to produce the provisional estimates presented in Table 7. The data capture process and statistical methodology are described in more detail in the Background Quality Report.
All percentages quoted in the commentary relating to holding periods are for where the holding period is known; assets with unknown holding periods are taken out of the percentage calculation.
Changes to Table 7
Since the 2023 publication, Table 7 contains information from the CGT on UK Property service, which was introduced on 6 April 2020. Prior to this, all CGT-liable UK property disposals were reported through Self Assessment and were therefore within the scope of the sample of additional information pages. The process for including this new data source is experimental, and Table 7 estimates for the 2023 to 2024 tax year are provisional and subject to revision due to potential methodological refinements. The change is described in more detail in the methodology section above as well as the Background Quality Report.
Due to high average number of disposals per taxpayer, the size of the sample was reduced to 4,200 taxpayers for the 2023 to 2024 tax year presented in this publication from approximately 7,500 taxpayers sampled for the 2019 to 2020 tax year in the 2022 publication. Similar reductions were also applied to the samples for the three years between these publications. This sample size allows us to obtain reliable results but may result in some additional statistical variability compared to survey datasets for the 2019 to 2020 tax year and earlier.
Table 7 and Table 8 comparison
Tables 7 and 8 in the 2026 publication both contain information on the number of disposals and gains for residential property for the 2023 to 2024 tax year. However, the figures in both tables are not directly comparable. Tables 8b and 8c include only information on disposals reported through the CGT on UK Property service whereas Table 7 also covers residential property disposals reported exclusively via Self Assessment. Table 8a includes residential property disposals reported through Self Assessment, but totals reported in Table 8a and Table 7 will differ as Table 8a is based on all Self Assessment returns while Table 7 is based on a sample. More information on the data sources used in the production of these tables is available in the Background Quality Report.
Statistics on UK residential property – Table 8
Taxpayers who dispose of UK residential property where CGT is due on all or part of the gain are required to report the disposal to HMRC within 60 days of completing the disposal via the CGT on UK Property service.
CGT-liable residential property gains are typically reported through this service but some amounts are reported through Self Assessment. Customers who have filed and paid through the CGT on UK Property service can also report amendments and revisions through Self Assessment that may lead to a change in chargeable gains and tax.
Table 8
Table 8a shows the total number of taxpayers who have reported disposals of residential property through either the CGT on UK Property service or Self Assessment. The 2026 publication provides information on the 2025 to 2026 tax year for the first time and updated figures for the tax years 2022 to 2023 through 2024 to 2025.
Table 8b shows the number of individual and trust taxpayers who have reported a tax liability using the CGT on UK Property service for the tax years 2022 to 2023 through 2025 to 2026. The table also shows the total gains and tax liabilities reported through this service as well as the number of returns submitted and disposals made.
Table 8c shows the same information for each tax year broken down by month of disposal.
Residential property in the 2024 to 2025 tax year
The 2024 to 2025 tax year is the most recent year for which we have information from Self Assessment returns and therefore comprehensive statistics on residential property disposals subject to CGT are available for this year. In this year, 205,000 taxpayers reported 230,000 disposals of residential property. These numbers represent a 30% increase from the previous year, which reflects similar trends in the wider residential property market.
£12.9 billion residential property gains were reported in the 2024 to 2025 tax year, leading to total CGT liabilities of £2.8 billion. This is an increase of 34% and 26% respectively from the 2023 to 2024 tax year. Wider residential property trends are discussed in the Annual Stamp Duty Land Tax statistics.
In the 2024 to 2025 tax year, the higher rate of CGT on residential property was reduced from 28% to 24%. This rate cut resulted in less tax being collected per transaction and per gain reported; however, earlier and additional transactions are expected to have been stimulated by the rate cut, which in turn resulted in additional reported gains and tax for this year.
Additionally, speculation around the possible implementation of tax increases at Autumn Budget 2024 on 30 October may have resulted in taxpayers bringing forward disposals. This can be seen by the increase in disposals and gains realised in September and October 2024 in Table 8c.2, followed by decreases in the subsequent months. A similar pattern in gains and tax can also be observed in the 2 months leading up to Autumn Budget 2025 on 26 November in Table 8c.1.
An increase in disposals, gains, and tax can also be observed in March 2025 in Table 8c.2. This relates to the timing of some transactions being brought forward to March 2025 as this was the last month in which purchasers of residential property in England and Northern Ireland could benefit from the temporary increase to the Stamp Duty Land Tax nil-rate band from £125,000 to £250,000.
The AEA was reduced from £6,000 to £3,000 in the 2024 to 2025 tax year, following on from a reduction from £12,300 to £6,000 in the previous year. Taxpayers who had realised gains in this range became liable to CGT and are included in the tables for this tax year, resulting in additional taxable disposals and gains. The reduction in the AEA also meant that taxpayers who realised gains of more than £6,000 had a greater proportion of their gains taxed. This resulted in these taxpayers reporting higher CGT liabilities. The amount of gains presented in the table are not affected as they are reported before the deduction of the AEA.
Residential property in the 2025 to 2026 tax year
Complete information on residential property is not available for the 2025 to 2026 tax year as the Self Assessment deadline is not due until 31 January 2027. However, information from CGT on UK Property returns for disposals made in the 2025 to 2026 tax year is presented in Tables 8b and 8c as HMRC receives these returns up to a year in advance of Self Assessment tax returns.
In the 2025 to 2026 tax year, 156,000 taxpayers filed a CGT on UK Property return, reporting 173,000 disposals and £8.9 billion gains on residential property for a total tax liability of £1.9 billion. All of these figures represent a decrease from the previous year. Some additional disposals, gains, and liabilities are likely to be reported in the future through late filing and amendments. The figures presented in these tables will be revised to reflect the latest position in the 2027 publication.
Methodology – Table 8
The statistics for total residential property taxpayers, disposals, gains, and tax in Table 8a are based both on Self Assessment returns leading to a liability on residential property gains and on CGT on UK Property returns submitted by UK residents who have reported at least one CGT-liable residential property disposal in the tax year in question. The statistics in this table for the CGT on UK property service are the totals from those returns. The statistics for Self Assessment represent:
- the total information from taxpayers who only filed and reported residential property disposals, gains, and tax through Self Assessment and did not file a CGT on UK Property return for that tax year
- changes to number of disposals and amounts of gains and tax from taxpayers making amendments and revisions through Self Assessment to information previously provided through the CGT on UK Property service
The statistics in Tables 8b and 8c are based only on information provided through CGT on UK Property returns filtered as described above. The number of reported disposals and associated statistics in these tables are subject to change due to:
-
the inclusion of late and amended CGT on UK Property returns
-
methodological updates
The number of disposals in Table 8 may not be equal to the total number of properties disposed of. This is because multiple taxpayers can report a disposal of their share of a jointly owned property in separate tax returns.
A small number of data points have been omitted from the statistics due to data quality issues.
Statistics on carried interest – Table 9
Table 9 provides information on carried interest gains and tax up to the 2024 to 2025 tax year, along with the number of CGT taxpayers reporting carried interest gains.
Carried interest is a form of performance-related reward received by fund managers. Carried interest gains were charged to CGT at rates of 18% and 28% between the 2016 to 2017 tax year and the 2024 to 2025 tax year and then charged at a single 32% tax rate for the 2025 to 2026 tax year. As of 6 April 2026, carried interest gains are no longer subject to CGT and are instead treated as trading profits that are subject to Income tax plus Class 4 National Insurance Contributions (NICs) rates. Where carried interest is ‘qualifying’, the amount of trading profits brought into charge will be reduced by the application of a 72.5% multiplier.
Table 9a shows the number of taxpayers with carried interest gains and the amounts of gain and tax for male and female taxpayers for the tax years 2016 to 2017 through 2024 to 2025.
The 2024 to 2025 tax year saw record numbers of carried interest taxpayers and amounts of gains and tax. In this year, 3,890 individuals reported £5.4 billion carried interest gains resulting in liabilities of £1.4 billion. The number of carried interest taxpayers rose by 31% from the 2023 to 2024 tax year, while the amounts of gains and tax reported increased by 52% and 57% respectively.
Carried interest is received mostly by male taxpayers. In the 2025 to 2026 tax year, 19% of taxpayers with carried interest gains were female, reporting 7% of the total gains and liabilities.
Table 9b shows the number of taxpayers with carried interest gains and the amounts of gain and tax for the 2024 to 2025 tax year by size of carried interest gain.
Most carried interest liabilities come from the relatively small number of taxpayers who made the largest gains. In the 2024 to 2025 tax year, 65% of the total carried interest liabilities came from the 6% of carried interest receivers who made gains of £5 million or more. By comparison, the top 5% of Income Taxpayers in the 2023 to 2024 tax year paid an estimated 47% of all Income Tax.
In the 2024 to 2025 tax year, only 3% of carried interest liabilities came from individuals reporting less than £250,000 carried interest gains. This group makes up 58% of carried interest taxpayers.
Table 9c shows the number of taxpayers with carried interest gains and the amounts of gain and tax for the 2024 to 2025 tax year by age category. Individuals paying CGT on carried interest gains tend to be younger than the overall CGT paying population. Three-quarters of carried interest taxpayers were aged 54 and below in the 2024 to 2025 tax year, reporting 61% of carried interest liabilities. By contrast, 35% of all CGT taxpayers fell into this age bracket, reporting 37% of all CGT liabilities.
Methodology - Table 9
The statistics reported in the carried interest tables are based on taxpayers liable to CGT who report carried interest gains.
Gains reported in the tables are before the deduction of losses and the AEA, as reported by taxpayers in the relevant boxes on the SA108 Self Assessment tax return pages.
Statistics on cryptoassets – Table 10
Table 10 provides information on cryptoasset disposal proceeds and gains in the 2024 to 2025 tax year, along with the number of CGT taxpayers reporting cryptoasset gains. These tables do not include trusts.
Cryptoasset disposals subject to CGT, along with their associated gains and losses, are now reported in a separate section of the SA108 Self Assessment tax return pages. This section was introduced for the 2024 to 2025 tax year. Prior to this, cryptoasset disposals were aggregated with other asset types reported in the ‘Other property, assets, and gains’ section of the return.
Table 10a shows the number of taxpayers with cryptoasset gains and the total cryptoasset disposal proceeds and gains reported in the 2024 to 2025 tax year, split by male and female taxpayers. The number of CGT taxpayers making cryptoasset disposals in this year was 17,600. These taxpayers reported total cryptoasset disposal proceeds of £13.8 billion and gains of £1.38 billion.
Male taxpayers make up 87% of all taxpayers reporting cryptoasset gains. This compares to 56% for CGT as a whole as reported in Table 1. Male taxpayers reported 93% of all gains on cryptoassets.
Table 10b shows the same information for the 2024 to 2025 tax year broken down by size of cryptoasset gain.
Most cryptoasset disposal proceeds and gains come from the small number of taxpayers who made the largest gains. Over half of disposal proceeds and gains in the 2024 to 2025 tax year came from taxpayers reporting cryptoasset gains of £1 million or more. This group represents less than 2% of all taxpayers with gains on cryptoassets.
Taxpayers realising cryptoasset gains of less than £25,000 reported 8% and 7% of total cryptoasset disposal proceeds and gains respectively. These taxpayers make up 65% of all taxpayers with cryptoasset gains.
Table 10c shows the information presented in Table 10a for the 2024 to 2025 tax year broken down by age category of the taxpayer.
In this year, 81% of taxpayers with cryptoasset gains were aged 54 and below, with 54% aged between 25 and 44. This contrasts with CGT as a whole where only 17% of taxpayers in the 2024 to 2025 tax year were aged between 25 and 44 as presented in Table 6.
Taxpayers aged between 25 and 44 reported 71% of cryptoasset disposal proceeds but only 45% of gains.
Methodology – Table 10
Cryptoasset gains reported in this table are defined as the difference between cryptoasset gains reported in box 14.3 and cryptoasset losses reported in box 13.5 of the SA108 Self Assessment tax return pages. The statistics reported in this table only include individuals with a CGT liability who have net cryptoasset gains as defined above.
A small number of these taxpayers may not be liable on these cryptoasset gains due to the allocation of losses and the AEA in cases where a taxpayer is also liable to CGT at the BADR rate of tax.
Due to the small number of cases involved, trusts have been omitted from this table to avoid potential disclosure of taxpayer information.
CGT liabilities on cryptoassets are not reported in this table as they are not separated from liabilities on other assets charged at the main rates of CGT.
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Publication date
27 August 2026
Next publication date
August 2027
Frequency
Annual
UK Theme
Economy