Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate his Department has made of the revenue that will accrue to the public purse from ending the exemption on primary or sole residences from capital gains tax.
The estimated cost of the exemption of Capital Gains Tax on gains on the disposal of a person’s main or only residence was £26.7bn for 2017-18. Further information is provided in the official statistics on non-structural tax reliefs that are available here: https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs