This represents increases from the 2023 to 2024 tax year of 28% for the number of disposals, while gains and liabilities reported through the service have increased by 39% and 33% respectively.

These are the highest figures since the introduction of the CGT on UK Property service in April 2020.

In the 2023 to 2024 tax year, the total CGT liability was £12.1 billion for 378,000 taxpayers, realised on £65.9bn of gains.

Commenting on the figures Evelyn Partners managing director Jason Hollands said: ‘These statistics reveal two telling points. One is that although 87,000 additional taxpayers were drawn into CGT liabilities in 2023/24 due to the cut in the annual exempt allowance, overall liabilities fell by 18%.

“Second, there was a big surge in CGT on residential property in 2024/25, with a remarkable 33% increase in liabilities as people with investment or second properties sold up, with a 28% increase in disposals on the previous year. “

He added:‘This update suggests that while some investors have been deterred from crystallising gains, there was a surge of property owners in 2024/25 disposing of their buy-to-let or second homes, either for fear of further CGT rises or because of conditions in the BTL market, or both.”