Accredited official statistics

Capital Gains Tax commentary

Updated 24 July 2025

Key points

In the 2023 to 2024 tax year, the total Capital Gains Tax (CGT) liability was £12.1 billion for 378,000 taxpayers, realised on £65.9 billion of gains. This represents a decrease in gains and liabilities of 19% and 18% respectively.

However, the number of CGT taxpayers in the 2023 to 2024 tax year increased by 1% to 378,000. This is explained by the reduction of the Annual Exempt Amount (AEA) from April 2023 which brought up to 87,000 additional taxpayers into the scope of CGT.

Most CGT comes from the small number of taxpayers who make the largest gains. In the 2023 to 2024 tax year, 40% 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 2023 to 2024 tax year, broadly speaking, as income and size of gain increased, the number of individual taxpayers decreased. In that year, 48% of gains for CGT-liable individuals came from the 14% of individuals with taxable incomes above £150,000, the additional rate threshold for Income Tax.

8% of CGT came from disposals that qualified for Business Asset Disposal Relief (BADR). BADR was claimed by 39,000 taxpayers on £10.3 billion of gains in the 2023 to 2024 tax year, resulting in CGT liabilities of £1 billion.

London and the South East of England accounted for around half of total gains (49%) and CGT liability (52%) in the 2023 to 2024 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 2022 to 2023 tax year. In that year, CGT taxpayers disposed of 1.4 million assets worth £188 billion and realised gains of £82 billion. Financial assets accounted for 83% of disposals, 70% of disposal proceeds, and 77% of gains.

In the 2024 to 2025 tax year, 163,000 taxpayers filed a CGT on UK Property return, reporting 183,000 disposals and £10.3 billion gains on residential property for a total CGT liability of £2.2 billion. These are the highest figures since the introduction of the CGT on UK Property service in April 2020.

In the 2023 to 2024 tax year 2,770 individuals reported £3.3 billion of carried interest gains, resulting in tax liabilities of £871 million.

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, Entrepreneurs바카라 사이트™ 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: the BADR lifetime limit was reduced from £10 million to £1 million and lifetime gains above £1 million were charged at the main CGT rates
• 2023 to 2024: the AEA was reduced from £12,300 to £6,000 for individuals and from £6,150 to £3,000 for most trusts

An accessible version of Chart 1 from the 2008 to 2009 tax year can be found in the section 바카라 사이트˜Taxpayer numbers, gains and tax liabilities 바카라 사이트“ Table 1바카라 사이트™ below (Chart 3). The full data for all charts in this commentary can be found in Table 1 of the statistics.

About this release

This publication is the annual update of the 바카라 사이트˜Capital Gains Tax statistics바카라 사이트™. The statistics include information on the number of capital gains taxpayers, capital gains, tax liabilities, and Business Asset Disposal Relief and Investors바카라 사이트™ Relief taken from Self Assessment returns, as well as breakdowns by size of gain, taxable income, region, and age up to the 2023 to 2024 tax year. Only information from taxpayers who have a CGT liability is included in the publication.

Updates have been made to the previous provisional figures and new information is provided for the 2023 to 2024 tax year.

 Breakdowns by holding period and type of asset disposed of are provided for the 2022 to 2023 tax year from sample information.

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 2024 to 2025 tax year.

The 2025 publication also includes information on carried interest taxpayers, gains, and tax for the first time.

Data sources, definitions, and methods are described in more detail in the Background Quality Report.

The Capital Gains Tax statistics are .

Commentary

This section provides the headline statistics about CGT taxpayers. Tables 1 to 6, 8a, and 9 are based on Self Assessment and CGT on UK Property returns reporting a CGT liability and include information on tax years up to 2023 to 2024. Tables 8b and 8c are solely based on CGT on UK Property returns and include information up to the 2024 to 2025 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 2022 to 2023 tax year.

Taxpayer numbers, gains and tax liabilities 바카라 사이트“ Table 1

Table 1 and Figures 1 and 2 show the long-term trend in key statistics for CGT.

In the 2023 to 2024 tax year, total CGT liability was £12.1 billion, which is a decrease of 18% from the 2022 to 2023 tax year. The total amount of gains was £65.9 billion: a decrease of 19% from the previous year.

Gains and liabilities have decreased for the second year in a row following record highs in the 2020 to 2021 and 2021 to 2022 tax years. In the 2023 to 2024 tax year, gains fell by £16 billion from the previous year and by £28 billion from 2 years previous, a net decrease of 30%. Liabilities fell roughly in line with gains: falling by £4.9 billion, or 29%, from the 2021 to 2022 tax year.

Chart 2: Amounts of gain by year of disposal from the 2008 to 2009 tax year.

Tax year of disposal	Amounts of gain (£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	94,057
2022 to 2023	81,821
2023 to 2024	65,937

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	17,011
2022 to 2023	14,653
2023 to 2024	12,086

However, the number of CGT taxpayers in the 2023 to 2024 tax year increased by 1% to 378,000 when compared with the previous year.

This is explained by the reduction in the AEA from £12,300 to £6,000 for individuals and from £6,150 to £3,000 for most trusts implemented in April 2023. Tables 2.1a and 2.1b show that this change has resulted in up to 83,000 individuals (shown as 84,000 in Table 2.1a due to rounding) with gains between £6,000 and £12,300 and up to 4,000 trusts with gains between £3,000 and £6,150 being brought into the scope of CGT. A small proportion of taxpayers are included in these gain bands due to specific taxpayer circumstances and adjustments to CGT liabilities, and not as a result of the reduction in the AEA .

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	404
2022 to 2023	376
2023 to 2024	378

As a result of the fall in gains and liabilities and the slight increase in taxpayers due to the AEA reduction in the 2023 to 2024 tax year, the average CGT liability has fallen by 18% to £32,000 per taxpayer.

This total number of CGT taxpayers is around one percent of the number of people who pay Income Tax.

Methodology 바카라 사이트“ 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, 바카라 사이트™Gains바카라 사이트™ are defined as the sum of chargeable gains from all disposals made by a taxpayer바카라 사이트”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, 바카라 사이트™Gains바카라 사이트™ 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 deducting 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.

Further details on past changes to CGT can be found in Annex A of the Background Quality Report.

Size of gain 바카라 사이트“ Table 2

Table 2 gives a further breakdown of the figures in Table 1 by size of capital gain for the most recent tax years. For this publication, we have split Table 2.1, which shows figures for the 2023 to 2024 tax year, into 2 separate tables: Table 2.1a for individuals and Table 2.1b for trusts. For each, we have included new gain bands based on recent changes to the AEA threshold. In the 2023 to 2024 tax year, the AEA was reduced from £12,300 to £6,000 for individuals and from £6,150 to £3,000 for most trusts. In the 2024 to 2025 tax year (not included in these tables), the AEA was reduced further to £3,000 for individuals and £1,500 for most trusts.

The new gain bands in Table 2.1a show that up to 83,000 individuals (shown as 84,000 in Table 2.1a due to rounding) were brought into the scope of CGT as a result of the change as their gains were above the new £6,000 AEA threshold and below the old threshold of £12,300. These individuals reported gains of £712 million and CGT liabilities of £38 million.

Likewise, the new bands in Table 2.1b show that there were approximately 4,000 trusts with gains above the new £3,000 AEA threshold and below the old threshold of £6,150. These trusts reported gains of £16 million and CGT liabilities of £2 million.

A small proportion of taxpayers are included in these gain bands 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.

Most CGT comes from the relatively small number of taxpayers who made the largest gains. In the 2023 to 2024 tax year, 40% of CGT came from individuals and trusts who made gains of £5 million or more. This proportion has fallen from 41% in the 2022 to 2023 tax year and 45% in the 2020 to 2021 and 2021 to 2022 tax years. This 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 and this group contributes around 2% of total CGT.

The amounts of gain and tax reported in all gain bands above £50,000 have decreased for the second year in a row in the 2023 to 2024 tax year, with the £5 million and above category contributing half of the total decrease in liabilities.

Size of gain by income 바카라 사이트“ 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.

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 taxpayers decreases. Individuals making large gains are also more likely to have higher incomes바카라 사이트”individuals with gains in excess of £1 million are most likely to have incomes of at least £200,000.

In the 2023 to 2024 tax year, individuals with gains under £50,000 and taxable income below £37,700 contributed 5% of the total gains and represented 40% of those liable to CGT. In this year, 48% of gains for individuals came from the 14% of CGT-liable individuals with taxable incomes above £150,000바카라 사이트”the additional rate threshold for Income Tax. Furthermore, 40% of overall gains were made by those with gains in excess of £1 million and income in excess of £150,000. This group represents 1% of individuals liable to CGT.

The amount of taxable income as presented in Table 3 cannot be directly used to determine a taxpayer바카라 사이트™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 2023 to 2024 tax year, an estimated 16% 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 £150,000. In that year, approximately 3% of all individuals paying Income Tax are estimated to be additional rate taxpayers, whereas 14% of CGT-liable individuals had a taxable income greater than £150,000.

Business Asset Disposal Relief and Investors바카라 사이트™ Relief 바카라 사이트“ Table 4

Table 4 shows the distribution of Business Asset Disposal Relief (BADR) and Investors바카라 사이트™ Relief claims broken down by size of capital gain for individuals and trusts. BADR was renamed from Entrepreneurs바카라 사이트™ Relief on 6 April 2020.

Investors바카라 사이트™ Relief was introduced in the 2019 to 2020 tax year. Claims for Investors바카라 사이트™ Relief make up only a very small proportion of totals presented in the tables.

There were 39,000 BADR claimants in the 2023 to 2024 tax year, a decrease of 13% from the previous year. In that year, BADR was claimed on £10.3 billion of gains resulting in liabilities of £1 billion, which represents decreases of 18% and 17% respectively.

Gains eligible for BADR are concentrated amongst individuals who have larger gains. Around two-thirds of gains and tax paid at the BADR rate came from the 21% of individuals with qualifying gains of £500,000 or more.

Trusts have historically made up a small percentage of total BADR tax liability. In the 2023 to 2024 tax year, trusts accounted for less than 1% of total gains and tax paid at the BADR rate.

Approximately 8% of the total CGT in the 2023 to 2024 tax year came from disposals qualifying for BADR.

Methodology - Definition of gains in Table 4

Gains reported in the BADR and Investors바카라 사이트™ 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.

The statistics for claims of BADR and Investors바카라 사이트™ 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 바카라 사이트“ 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 38% of individuals who were liable to CGT in the UK in the 2023 to 2024 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 (52%) in the 2023 to 2024 tax year. These figures are broadly constant over time and there is a stable regional distribution overall.

Age statistics 바카라 사이트“ 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 45% of the CGT-liable population and contributed around 60% of the gains and tax in the 2023 to 2024 tax year. The oldest and youngest 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 2022 to 2023 tax year 바카라 사이트“ Table 7

Table 7 shows the number of disposals and amounts of disposal proceeds and gains arising in the 2022 to 2023 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 1.4 million assets worth £188 billion with gains of £82 billion in the 2022 to 2023 tax year. This represents a 14% decrease in number of asset disposals and a 13% decrease in total gains from the 2021 to 2022 tax year.

Financial assets

In the 2022 to 2023 tax year, financial assets accounted for 83% of all disposals, 70% of the total disposal proceeds and 77% of total gains. These proportions have decreased from the previous year.

The overall decrease in the number of CGT-liable disposals in the 2022 to 2023 tax year was due to fewer financial assets being disposed of. The number of financial assets disposed of was 1.2 million, a decrease of 16% from the previous year. Disposals of other financial assets decreased by 180,000, or 29%, from the previous year. This decrease is driven by the volatility in crypto-asset disposals in each year.

The disposal proceeds and gains from financial assets were £132 billion and £63 billion, decreases of 18% and 16% respectively.

The number of disposals, disposal proceeds, and gains all decreased for unlisted shares from the previous year. For listed shares, proceeds and gains fell despite the number of disposals rising. Unlisted shares account for 45% of disposal proceeds and 67% of gains across all financial assets. Gains as a percentage of disposal proceeds for unlisted shares are particularly high at 70%.

Non-financial assets

Residential land and buildings were the largest component of non-financial assets in the 2022 to 2023 tax year and accounted for 85% of disposals, 81% of the total value of all disposals, and 68% of gains across this category. The number of residential property disposals, disposal proceeds and gains all increased on the previous year.

Holding periods

Of assets with known holding periods, 81% of listed shares and 60% of unlisted shares were sold within the first 5 years. Both percentages are higher than the proportion of residential land and buildings, and commercial and agricultural land and buildings held for 5 years or less, at 27% and 18% respectively.

The median average holding period is between one and 2 years for listed shares and between 4 and 5 years for unlisted shares. For both residential land and buildings and agricultural, commercial, or industrial land and buildings, the median holding period is between 10 and 15 years.

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 53,000 CGT on UK Property returns submitted by taxpayers who did not also submit a Self Assessment return.

Using experimental methodology, 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 2022 to 2023 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 a high average number of disposals per taxpayer, the size of the sample for 2022 to 2023 was reduced from approximately 7,500 taxpayers to approximately 5,700. A similar reduction was also applied to the samples for the 2020 to 2021 and 2021 to 2022 tax years which were presented in the 2023 and 2024 publications respectively. 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 2025 publication both contain information on the number of disposals and gains for residential property for the 2022 to 2023 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 바카라 사이트“ 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 8a shows the total number of taxpayers who have reported disposals of residential property through either the CGT on UK Property service or through Self Assessment for the tax years 2021 to 2022 through 2024 to 2025. This table also shows the total residential property gains and tax. This table is new for the 2025 publication.

Table 8b (Table 8a in prior publications) 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 2021 to 2022 through 2024 to 2025. 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 (Table 8b in prior publications) shows the same data for each tax year broken down by month of disposal.

The 2023 to 2024 tax year is the most recent year for which we have information from Self Assessment returns therefore total information on residential property disposals are available for this year. In this year, 154,000 taxpayers reported 173,000 disposals of residential property. These numbers represent around a 15% decrease from the previous year, which reflects a similar trend in the wider residential property market.

£9.4 billion residential property gains were reported in the 2023 to 2024 tax year, leading to total CGT liabilities of £2.2 billion. This is a decrease of 26% and 19% respectively from the 2022 to 2023 tax year. Wider residential property trends are discussed in the Quarterly Stamp Duty Land Tax statistics.

In the 2023 to 2024, tax year the AEA was reduced from £12,300 to £6,000. This means that taxpayers who have realised gains in this range are now liable for CGT and included in the tables for this tax year. This partially offsets the overall decrease in the number of taxpayers and disposals from the previous year. The offsetting effect is less pronounced for gains and tax reported as the newly affected taxpayers have smaller than average gains.

In addition, the reduction in the AEA means that taxpayers realising gains of more than £12,300 will have a greater proportion of their gains taxed. This does not affect the amount of gains presented in the table as they are reported before the deduction of the AEA, but it does result in these taxpayers reporting more CGT which partially offsets the overall decrease in CGT from the previous year. 

Complete information on residential property is not available for the 2024 to 2025 tax year as the Self Assessment deadline is not due until 31 January 2026. However, information from CGT on UK Property returns for disposals made in the 2024 to 2025 tax year is presented in these statistics as HMRC receives these returns up to a year in advance of Self Assessment tax returns.

Table 8b shows that for the 2024 to 2025 tax year, 163,000 taxpayers have filed 176,000 returns through the service, reporting 183,000 residential property disposals. This represents increases from the 2023 to 2024 tax year of 25% for number of taxpayers, 26% for number of returns, and 28% for number of disposals. Total gains and liabilities reported through the service have increased by 39% and 33% to £10.3 billion and £2.2 billion respectively.

All figures are the highest seen for the CGT on UK Property service since it was introduced for the 2020 to 2021 tax year. The total numbers of taxpayers and disposals and total amounts of gains and tax are expected to increase further due to late filing and taxpayers reporting through Self Assessment.

In the 2024 to 2025 tax year, the higher rate of CGT on residential property was reduced from 28% to 24%. This rate cut results in less tax being collected per transaction; however, earlier and additional transactions are expected to have been stimulated by the rate cut, which in turn results in additional reported gains and tax for this year.

The AEA was cut further in the 2024 to 2025 tax year to £3,000. Gains between £3,000 and £6,000 have now been brought into tax, resulting in additional taxable disposals and gains.

Methodology 바카라 사이트“ 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

• any 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 바카라 사이트“ Table 9

Table 9 provides information on carried interest gains and tax up to the 2023 to 2024 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. Carried interest gains are charged at a 32% tax rate for the 2025 to 2026 tax year. From April 2026, carried interest will be treated as trading profits which are subject to Income tax plus Class 4 National Insurance Contributions (NICs) rates and where carried interest is 바카라 사이트˜qualifying바카라 사이트™, 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 2023 to 2024.

In the 2023 to 2024 tax year, 2,770 individuals reported £3.3 billion carried interest gains, resulting in liabilities of £871 million.

The number of individuals receiving carried interest increased between the 2016 to 2017 and 2022 to 2023 tax years, from 1,690 to 2,860 individuals, but has since seen a small decrease to 2,770 individuals. The total amount of carried interest liability also increased between the 2016 to 2017 and 2021 to 2022 tax years from £630 million to £1.4 billion but has since decreased by 37% over 2 years to £871 million in 2023 to 2024.

Carried interest is received mostly by male individuals. In the 2023 to 2024 tax year, 18% of taxpayers reporting carried interest gains were female, reporting 6% 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 2023 to 2024 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 2023 to 2024 tax year over 60% of the total carried interest liabilities came from around 5% 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 48% of all Income Tax.

In the 2023 to 2024 tax year, only 3% of carried interest liabilities came from individuals reporting less than £250,000 carried interest gains. This group makes up 60% of carried interest taxpayers.

Table 9c shows the number of taxpayers with carried interest gains and the amounts of gain and tax for the 2023 to 2024 tax year by age category.

Over half of carried interest taxpayers were aged between 45 and 64 in the 2023 to 2024 tax year, reporting 80% of the carried interest liabilities. By contrast, only 60% of CGT liabilities were from taxpayers in this age category. The oldest and youngest age brackets reported the least amount of carried interest 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.

Further information

Statistical contacts

M Minev, T Penny

Media contact

news.desk@hmrc.gov.uk

Publication date

24 July 2025

Next publication date

August 2026

Frequency

Annual

UK Theme

Economy