Capital gains tax receipts exploded after the Budget with December 2024’s figure being more than double that of December 2023, rising to £335m, a staggering £179m more than last year’s £156m as significant Budget tax rises took hold.

Over the last quarter CGT hit a record £808m, up 60% from last year’s £505m for the same three months.

The extra revenue started to flow into the Treasury in October even before the Budget as businesses tried to swerve predicted CGT rises, and continued into November, with CGT take for these two months alone £130m higher than the same period in 2023.

Sarah Coles, head of personal finance, Hargreaves Lansdown: ‘The Budget delivered for the taxman and the CGT bill rose in December to £335m: its highest since March. In the last three months of 2024, we paid £808m in CGT. That’s up an impressive 60%.’

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