Its website revealed that the Treasury would receive just £1.6bn in CGT tax receipts for 2002/2003 compared with £3bn the previous year.
The dramatic drop was brought about by falling share prices as well as the increasing use of taper relief on capital gains, introduced to encourage investment in smaller companies.
Total revenue tax receipts also fell, dropping by £3bn from £154bn to £151bn.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...