Tax receipts rise £16.6bn as speculation grows over capital gains tax
HMRC collected £230.9bn in income tax, capital gains tax and national insurance between April and August, as speculation mounts over further tax changes at next month's Budget.
HM Revenue & Customs collected £230.9bn in income tax, capital gains tax (CGT) and national insurance between April and August, up £16.6bn on the same period last year, according to the latest figures.
PAYE income tax and national insurance made up £214bn of the total, £16.9bn higher than a year earlier, with HMRC pointing to stronger property tax revenues as the market settled after last year's stamp duty changes. Insurance premium tax, the levy added to most UK insurance policies including life and protection cover, also stayed close to record levels, at £4.49bn for the five months.
Capital gains tax receipts for the year so far stand at £914m, slightly below the same point last year, after a record £22.2bn was collected in 2025/26 following higher rates introduced at the 2024 Budget. Advisers say speculation is building ahead of next month's Budget about further changes to CGT, particularly if the government raises the personal income tax allowance and needs to find the money elsewhere.
For families already thinking about inheritance tax and how life cover or savings are held, this kind of pre-Budget uncertainty is a reminder to review plans calmly and regularly, rather than rush decisions based on speculation, since tax rules can, and do, change.
Based on reporting by MoneyAge (September 2026). Information only, not advice.
Information only. This is general information, not financial, tax or legal advice, and not a personal recommendation. Tax rules depend on your individual circumstances and can change. Please speak to a qualified, FCA-regulated adviser or a solicitor before acting.