Housing: Capital Gains Tax

Treasury written question – answered on 27th February 2020.

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Photo of Steve Reed Steve Reed Shadow Minister (Education) (Children and Families)

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.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

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

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