Emeritus Prof Christopher May on Nostr: Should we raise #capitalgainstax? Before you say no, it would (further) stifle UK ...
Should we raise #capitalgainstax?
Before you say no, it would (further) stifle UK #investment, here are some facts on #CGT
in 2020 over half of all taxable gains went to 5,000 people who on average received over £6mn in gains
While 0.3% of people with incomes of less than £50k paid CGT, over 40% of those with income of above £5mn grand taxable gains (in an average year).
Taxing capital gains at the same (not lower) rates as income doesn't really seem unfair, now does it?
h/t FT
Before you say no, it would (further) stifle UK #investment, here are some facts on #CGT
in 2020 over half of all taxable gains went to 5,000 people who on average received over £6mn in gains
While 0.3% of people with incomes of less than £50k paid CGT, over 40% of those with income of above £5mn grand taxable gains (in an average year).
Taxing capital gains at the same (not lower) rates as income doesn't really seem unfair, now does it?
h/t FT