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https://www.theguardian.com/busines...st-people-exploiting-loophole-to-cut-tax-rate
HMRC data shows 9,000 people paid just £5.1bn in tax on £33.7bn of capital gains income in the latest financial year available. That works out at an average tax rate of 14.8%, lower than than the basic rate income tax of 20% that people pay on salaries of between £12,501 and £50,000.
https://www.theguardian.com/politic...ed-by-britains-richest-urges-former-hmrc-head
The former head of HM Revenue and Customs has called on the government to scrap a controversial tax break designed to help entrepreneurs, which he said was costing the country £2bn a year in lost tax yet provided “no incentive for real entrepreneurship”.
“It gives £2bn CGT savings every year to those who have already made their gains and provides no incentive for real entrepreneurship.”
I don't see the usual lot on here talk about this giveaway?
No one likes to pay more Tax than they should but I am a higher rate tax payer, fair enough I earn more so I pay more. I would like those earning millions to pay the same or similar proportion that I do.
Now who disagrees with that?
HMRC data shows 9,000 people paid just £5.1bn in tax on £33.7bn of capital gains income in the latest financial year available. That works out at an average tax rate of 14.8%, lower than than the basic rate income tax of 20% that people pay on salaries of between £12,501 and £50,000.
https://www.theguardian.com/politic...ed-by-britains-richest-urges-former-hmrc-head
The former head of HM Revenue and Customs has called on the government to scrap a controversial tax break designed to help entrepreneurs, which he said was costing the country £2bn a year in lost tax yet provided “no incentive for real entrepreneurship”.
“It gives £2bn CGT savings every year to those who have already made their gains and provides no incentive for real entrepreneurship.”
I don't see the usual lot on here talk about this giveaway?
No one likes to pay more Tax than they should but I am a higher rate tax payer, fair enough I earn more so I pay more. I would like those earning millions to pay the same or similar proportion that I do.
Now who disagrees with that?