DOOM: CGT

[OwlHoot]

I wonder how long it will be before they start bumping up inheritance tax too, treating it like income tax !

[MarillionFan]

Basically Rishi is coming for me. I know it.

No worries. Grassy Knoll planned...

[Mordac]

You are laughing, but guess what CGT is like in Germany?

F-all if you're liable for not much more than three pfennigs...

[AtW]

F-all if you're liable for not much more than three pfennigs...

Flat 25%, and dividends tax also flat 25% (plus “solidarity charge”, which is 1-2%).

It’s crazy but Germany with budget proficit, better public services, better public transport got lower taxes than UK (with worse services).

But who cares about CGT when you have Brexit?

[Mordac]

Flat 25%, and dividends tax also flat 25% (plus “solidarity charge”, which is 1-2%).

It’s crazy but Germany with budget proficit, better public services, better public transport got lower taxes than UK (with worse services).

But who cares about CGT when you have Brexit?

I wish we had a proficit. Maybe Scooty could show us how...

[ChimpMaster]

CGT aligning with income tax will hit non-property assets harder. Gains on property are currently taxed at 18% or 28%, whereas gains on other assets (shares etc) are taxed at 10% or 20%.

So if the CGT rate is raised to 40%, there will be a 12% increase on property, but there will be a 20% increase for shares. This of course means that distributions from your own company will be taxed at income tax rates, where/if you don't qualify for BADR.

[d000hg]

Housing market is going to collapse according to CUK experts (they've been saying it 10 years) so no need to be concerned on CGT front

[TheGreenBastard]

CGT aligning with income tax will hit non-property assets harder. Gains on property are currently taxed at 18% or 28%, whereas gains on other assets (shares etc) are taxed at 10% or 20%.

So if the CGT rate is raised to 40%, there will be a 12% increase on property, but there will be a 20% increase for shares. This of course means that distributions from your own company will be taxed at income tax rates, where/if you don't qualify for BADR.

Wouldn't CGT hikes on stocks destroy London as a financial capital of the world?

[scooterscot]

Wouldn't CGT hikes on stocks destroy London as a financial capital of the world?

Decoupling from a marketplace of 550 million would be inconsequential by comparison?


Get used to it. Outside the EU, the UK is going to become a high tax environment just like Switzerland / Norway to remain relevant / protect its interests.

[TwoWolves]

Personally, I would prefer that they increase CGT and scrap IR35 because I can still claim business expenses and manage what I actually pay myself according to current cash-flows. PAYE is too brittle to manage.

However, I think we all know they will keep both and tax the economy into the stone age. Nobody in the civil service believes in capitalism anymore so we will have to tread the path worn by the USSR just to show how removing all incentives works to everyone.