There has been a surge in disposals resulting in capital gains tax (CGT) since October, largely due to expectations that CGT would be cut at the Budget on 30 October. There was huge hike in CGT disposals in October and November, totalling £471m over the two months, up £125m compared with £346m the previous year. November CGT receipts were £222m, up from £172m; normally these figures are quite stable month to month with little fluctuation.

Moore said: ‘October saw a marked increase in tax take, and these figures show November followed suit. CGT bills totalled £222m in November, and there has now been a £230m increase in tax take between April to November this year compared to the same period last year.’

Inc