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

Government receipts from Capital Gains Tax have rocketed by £5bn in two years, prompting a warning that more clients face being hit by the tax.

Capital Gains Tax receipts are forecast to more than double from £9.2bn in 2021/22 to £19.7bn in 2026/27, according to Government predictions.

The Office of Tax Simplification has called for significant reform of Capital Gains Tax to make it more flexible and reporting of gains easier but has stopped short of radical measures.