Higher rate investors could face capital gains tax leap from 24% to 40% in Healey's autumn Budget

From the Newshound archive · first published 23 September 2026.

Chancellor John Healey is eyeing a capital gains tax hike that would align CGT rates with income tax, potentially doubling the bill for higher-rate taxpayers from 24 to 40 per cent. A record £24.2 billion in CGT was paid in 2024/25, up 89 per cent in a single year, as the number of people caught by the tax jumped 45 per cent to 584,000. The increase would be the second CGT hike in two years, following Rachel Reeves' rise that came into force in April.

The annual CGT allowance has already been slashed from £12,300 to just £3,000 in rapid succession, dragging far more ordinary investors into the net.

Think-tanks and ministers are openly pressing Healey to act at the Budget, which is now little more than a month away.