• HelloThere@sh.itjust.works
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    1 year ago

    For some?! It’s literally everyone, the CGT bands are 10% and 20%, for non-property

    https://www.gov.uk/capital-gains-tax/rates

    Equalisation of CGT and Income tax is a no brainer. The argument has always been that CGT (and things like entrepreneur relief) should exist because of the risks involved, but given that both allow offsetting against costs and losses (and income tax doesn’t) it’s always been a bullshit argument which exists purely to preserve wealth.

    • killeronthecorner@lemmy.world
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      1 year ago

      It’s “for some” because if you’re willing to earn an unliveable pittance, you aren’t taxed very much if anything.

      In principle though, you are right.

    • Aux@lemmy.world
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      1 year ago

      Taxing capital gains will only dampen the economy. Instead, use this lower tax to improve your financial situation.

        • Aux@lemmy.world
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          1 year ago

          I don’t think there should be taxes at all. Not in a current form.

          • noodle@feddit.uk
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            1 year ago

            Hang on, just getting my Libertarianism bingo card ready…

            Ok, so are you a free man of the land or one of those who thinks we should be able to buy rocket launchers at Tesco?

            • Aux@lemmy.world
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              1 year ago

              Neither. Taxes should be nothing more than a subscription or an insurance. Taxes in the UK today are funneled straight into the pockets of Tory friends.

      • Astroturfed@lemmy.world
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        1 year ago

        Yes, because everyone has money to invest. So they should just make more money on their money and stop being poor. Why hasn’t a anyone ever thought of this. Just stop being poor.

        • Aux@lemmy.world
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          1 year ago

          Literally no one is forcing you to be poor, it’s your own choice. And yes, everyone can save up a bit and invest. And it WILL snowball over your life. Don’t be stupid.