Friday, Oct 12, 2007
Inflation to be taxed at 18%
Citywire: Outcry as pre-Budget report taxes older investors on inflation
The new CGT rules effectively tax inflation at 18% as CGT will be charged on the nominal gains in value rather than the real gains in value after inflation is taken into account. This means that you can face a tax bill on investments that you have actually lost money on in real terms. Anyone who has held an asset since the 1970s will be particularly punished.
Posted by ah-so @ 11:00 AM (382 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. dohousescrashinthewoods said...
Fiscal drag takes on a whole new set of teeth!
Even if it is adjusted for official inflation.
2. M2 said...
Unless you plan on burying gold sovereigns in your back garden, it's another reason (as if you needed one) to take it all out of the country..