Chancellor rejects calls to raise Capital Gains Tax in Budget

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1. 1

   Chancellor rejects calls to raise Capital Gains Tax in Budget

   BBC NewsPublished Oct 20, 2026Checked Oct 20, 2026

   “Chancellor John Healey says he wants to avoid an investor exodus from the UK Chancellor John Healey has dismissed calls from some Labour MPs to increase Capital Gains Tax (CGT). Cabinet ministers Wes Streeting and Louise Haigh both previously voiced support for raising CGT before Andy Burnham became prime minister in July. Ahead of next week's Budget, as first reported by the Times , external , Healey is minded not to increase CGT - which is imposed on the profit people make when they sell an asset that has increased in value, such as shares in a company or properties which are not primary residences. The move followed warnings that it could end up costing the government money if wealthy people leave the country or defer selling off assets. If you pay income tax at the basic rate then CGT is charged at 18%. For higher and additional rate income tax payers, the CGT rate is 24%. Last year, HMRC estimated , external that lifting the lower rate of CGT by 1% could raise £5m by 2028-9 but increasing the higher rate of CGT by 10% would reduce the Treasury's receipts by £3.6bn in 2028-9. The amount raised could be reduced if people adapt their behaviour to the tax rise, for example by moving abroad or deciding not to sell a property. The chancellor gave an indication of his approach last month in a speech when he spoke about the importance of businesses and self-employed people making profits. "I want to see this country as a country of wealth creation.”

2. 2

   Capital gains tax in the United Kingdom (Wikipedia)

   WikipediaChecked Oct 20, 2026

   “Capital gains tax in the United Kingdom is a tax levied on capital gains, the profit realised on the sale of a non-inventory asset by an individual or trust in the United Kingdom. The most common capital gains are realised from the sale of shares, bonds, precious metals, real estate, and property, so the tax principally targets business owners, investors and employee share scheme participants. Gains made by companies fall under the scope of corporation tax rather than capital gains tax. In 2017–18, total capital gains tax receipts were £8.3 billion from 265,000 individuals and £0.6 billion from trusts, on total gains of £58.9 billion. By 2024-25, CGT receipts had risen to a record £17 billion. Analysis attributed part of the increase to residential property disposals as landlords exited the private rented sector.”

3. 3

   Of Tax, Crime, and Happiness. An Interdisciplinary Research Review on Social Inequality.

   Neue politische Literatur (Pleinen)Published Mar 2, 2022Checked Oct 20, 2026

   “This article reviews research literature on inequality from economics, sociology and political science from a historiographic perspective. The literature covered here mainly focusses on the development of Western societies between 1970 and 2010 and is organised in terms of research concepts such as tax competition, educational attainment gaps, educational assortative mating, opportunity hoarding, happiness inequality, politics of resentment, welfare chauvinism and nature versus nurture.”

4. 4

   Capital gains tax (Wikipedia)

   WikipediaChecked Oct 20, 2026

   “A capital gains tax (CGT) is the tax on profits realised on the sale of a non-inventory asset. The most common capital gains are realised from the sale of stocks, bonds, precious metals, real estate, and property. Not all countries impose a capital gains tax, and most have different rates of taxation for individuals compared to corporations. Countries that do not impose a capital gains tax include Bahrain, Barbados, the Cayman Islands, the Isle of Man, Jamaica, New Zealand, Singapore, and others. In some countries, such as New Zealand and Singapore, professional traders and those who trade frequently are taxed on such profits as a business income. Capital gains taxes are payable on most valuable items or assets sold at a profit. Antiques, shares, precious metals and second homes could be all subject to the tax if the profit is large enough. This lower boundary of profit is set by the government, and if the profit is lower than this limit it is tax-free. The profit is in most cases the difference between the amount (or value) an asset is sold for and the amount it was bought for. The tax rate on capital gains may depend on the seller's income.”