NoOooooooo

[Spacecadet]

Just heard Cameron saying:
"We must stop people turning capital income into capital gains"

Looks like we're in for new IR35 type legislation

link here:

http://news.bbc.co.uk/1/hi/uk_politics/8710071.stm

But he said there was a problem with the tax system where CGT was taxed at 18% while there were much higher rates for income tax "which is encouraging tax avoidance" and their plans were for a "modest additional revenue raising exercise" to lift some of the poorest people out of income tax.

 

[Zippy]

Just heard Cameron saying:
"We must stop people turning capital income into capital gains"

Looks like we're in for new IR35 type legislation

link here:

BBC News - David Cameron pledges 'dynamic' business decade

Marvellous. The safest place for cash is under the mattress.

 

[AtW]

CGT was taxed at 40% for very long time - at least 10 years, probably more.

The good thing was that business assets held for 2+ years had taper relief (Brown's thing - possibly the only good thing he did as chancellor), fking Darling scraped it just 2 years ago - people should not whine it comes back to 40% or even 50% - this is designed to deal with people who shift income to "capital gains", so long as Cons bring in taper relief in some form as before I'll be cool with it.

If not though, which is likely, then I'll be freaking

 

[NickFitz]

I refer the honourable member to the reply I gave earlier.

 

[AtW]

I refer the honourable member to the reply I gave earlier.

Getting CGT back to 40% isn't screwing - Liebor made totally wrong reduction in tax which just encouraged tax avoidance and fecked up long term investors (like myself).

FFS, http://www.hmrc.gov.uk/stats/capital_gains/table-ta-7.pdf

CGT was at the same level as "income tax rates" since 1988 - before that it was 30% - it should have never been 18% (unless income tax is at the same rate), and Tories are not screwing anybody with increase to where it was meant to be - Liebor fecked up everyone.

 

[threaded]

Marvellous. The safest place for cash is under the mattress.

No, yer kids always look under the mattress.

Best is inside your favourite chair or settee... well guarded you see. They never think to look in there.

And you can fit more in.

Which is nice.