UK Politics
General Discussion for politics in the UK.
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[email protected] appears to have vanished! We can still see cached content from this link, but goodbye I guess! :'(
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Misleading headline, bad Guardian. He paid income tax on income, and capital gains tax on a capital gains. Capital Gains tax is a flat rate (20%) the same as the basic rate of income tax. And you put your money in the US economy. Because it’s doing better than the UK one. No thanks to either government!
It's still "income" in the sense that it's money comeing in to his account. Only difference is that he didn't even need to do anything to earn it.
We used to tax capital gains at the same rate as income until it was slashed in 2008.
You’re right about the slash by Brown in 2008 - it was 40% under Lawson (Conservative) - that should be revisited