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Capital Gains Tax payments leap 42% to £14.3bn

Capital Gains Tax (CGT) receipts rose 43% to £14.3bn for the 2020/21 tax year, according to data from HMRC this morning.

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Advisers urge removal of ‘emergency’ drawdown tax

Almost 50 financial advisers have said that removing emergency tax on income drawdown payments would top their wish list for simplifying pension planning.

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Planners react: IHT receipts reach £6.1bn

Inheritance tax receipts for April 2021 to March 2022 were £6.1bn, a rise of £0.7bn year-on-year, according to the latest figures from HMRC.

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7 in 10 over 50s fail to take IHT advice

Almost 7 in 10 (69%) of over-50s have not taken inheritance tax (IHT) advice, despite many holding assets over the nil rate band.

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