More capital gains tax is paid in one neighbourhood in Kensington than in Liverpool, Manchester and Newcastle combined, a new report has uncovered.

The Capital Gains Tax (CGT) collected from trusts has grown by 27% to £1bn over the past year, according to data released by HMRC this month.

M&G Wealth has added a Capital Gains Tax (CGT) tool to its platform enabling advisers to carry out complex calculations and test different planning scenarios for clients.

In today’s Autumn Statement Chancellor Jeremy Hunt announced substantial cuts to the Capital Gains tax-free allowance.