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DOOM: CGT

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    #11
    I wonder how long it will be before they start bumping up inheritance tax too, treating it like income tax !
    Work in the public sector? Read the IR35 FAQ here

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      #12
      Basically Rishi is coming for me. I know it.

      No worries. Grassy Knoll planned...
      What happens in General, stays in General.
      You know what they say about assumptions!

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        #13
        Originally posted by AtW View Post
        You are laughing, but guess what CGT is like in Germany?

        F-all if you're liable for not much more than three pfennigs...
        His heart is in the right place - shame we can't say the same about his brain...

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          #14
          Originally posted by Mordac View Post
          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?

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            #15
            Originally posted by AtW View Post
            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...
            His heart is in the right place - shame we can't say the same about his brain...

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              #16
              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.

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                #17
                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
                Originally posted by MaryPoppins
                I'd still not breastfeed a nazi
                Originally posted by vetran
                Urine is quite nourishing

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                  #18
                  Originally posted by ChimpMaster View Post
                  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?

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                    #19
                    Originally posted by TheGreenBastard View Post
                    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.
                    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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                      #20
                      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.

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