40 percent Capital Gains Tax

[FXX]

How a capital gains tax raid could hit investments and buy-to-let

A report into how asset sales are taxed floats hiking capital gains tax to income tax levels, and slashing the annual tax-free sum from £12,300 to as low as £2,000.

www.thisismoney.co.uk

They can shove their CGT up their rear ends if they think anyone making money is going to sit tight and accept this without moving operations outside the jurisdiction.

 

[MasterOfCoin]

How a capital gains tax raid could hit investments and buy-to-let

A report into how asset sales are taxed floats hiking capital gains tax to income tax levels, and slashing the annual tax-free sum from £12,300 to as low as £2,000.

www.thisismoney.co.uk

They can shove their CGT up their rear ends if they think anyone making money is going to sit tight and accept this without moving operations outside the jurisdiction.

Which is why only bonkers Boris would even think about doing it.

😜

 

[Trader333]

They can shove their CGT up their rear ends if they think anyone making money is going to sit tight and accept this without moving operations outside the jurisdiction.

That may work well for generic trading but for those with property in the UK there is no way around it that I can think of. This is all about "paying for the pandemic". However, anyone who has bothered to look into taxation policy knows that once you start taxing beyond a certain level (and this is right in that category) you may well make short term gains but overall in the long term you get less than if you hadn't ramped up the tax to start with. Whilst I do not have political associations, it is interesting to note that in the late 1980s when the government at the time lowered tax to the lowest level it ever had been, more money was received by the treasury in tax than had ever before been the case. The lesson here is that if you want long term tax revenue then lower taxes don't raise them.

 

[FXX]

That may work well for generic trading but for those with property in the UK there is no way around it that I can think of. This is all about "paying for the pandemic". However, anyone who has bothered to look into taxation policy knows that once you start taxing beyond a certain level (and this is right in that category) you may well make short term gains but overall in the long term you get less than if you hadn't ramped up the tax to start with. Whilst I do not have political associations, it is interesting to note that in the late 1980s when the government at the time lowered tax to the lowest level it ever had been, more money was received by the treasury in tax than had ever before been the case. The lesson here is that if you want long term tax revenue then lower taxes don't raise them.

it is no doubt idiots living in another reality coming from wealth and having offshore accounts that have decided this would be a good idea. If this goes ahead the UK is sending a message that hard work and risk-taking will be taxed more than laziness and sponging. It must be a special kind of stupid that sees this as a viable policy. Perhaps if these retards started thinking more like a business and less like a carrot, they would devise plans to build wealth that doesn't involve opening their hands and asking for handouts. No doubt the same idiots that's advised the government on screwing over the self-employed. We should export this stupidity to so that Brittain can be open for business and attract investment instead of taxing it

Take Norway's sovereign fund for example - now there is a country with brains and no retards making financial decisions.