The number of taxpayers grew 20% (year-on-year) to almost 400,000 (394,000).

The number of people paying CGT has more than doubled over the last decade, according to figures released by HMRC yesterday.

The £16.7bn paid in tax was realised on £92.4bn of gains.

The CGT allowance is due to be cut from £12,300 last year to just £3,000 by 2024/25, meaning HMRC is likely to see increasing gains.

Toby Tallon, tax partner at Evelyn Partners, said clients have approached the firm to accelerate asset sales due to concerns about potential changes to capital gains tax

He said: “From speaking to our clients and recent research we conducted amongst business owners, we know that many are concerned that the tax regime could become even more restrictive and are accelerating the sale of assets before any potential tax changes, such as a possible increase in the rate of CGT. Anyone thinking of selling a property or business should remember it can be a lengthy process - particularly when it comes to disposing of large assets – and so planning ahead would be recommended. However tax is only one aspect to consider when disposing of an asset.

“No changes to the rate of CGT have been proposed as things stand, but the outlook for CGT post the next General Election remains uncertain at this stage. Nevertheless with the known changes to the annual exemption there are a number of areas that individuals can consider to minimise the impact.”

According to investment platform AJ Bell, the increase was partly down to landlords exiting the rentals market and selling their properties.

Laith Khalaf, head of investment analysis at AJ Bell, said: “The easiest way to avoid paying capital gains tax on your shareholdings is to hold them in an ISA, though clearly this isn’t possible if the asset you’re investing in is a property, on which you will also face an extra 8% capital gains tax surcharge on any profits you do make.”