Capital Gains Tax: Tax Allowances
(asked on 8th January 2021) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government whether they have estimated how much additional tax revenue would be raised by abolishing the Capital Gains tax-free allowance; and if so, how much additional such revenue they estimate would be raised.
This question was answered on 20th January 2021
HMRC do not currently publish an estimate for the cost of the Capital Gains Tax Annual Exempt Amount (AEA)[1]. A reliable estimate could only be made available at disproportionate cost.
[1] The AEA appears in the “cost unavailable” table for the structural tax relief official statistics here: https://www.gov.uk/government/statistics/minor-tax-expenditures-and-structural-reliefs