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Realistbear

How Many Signed Petition To Limit C G T?

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http://uk.finance.yahoo.com/news/cgt-17-000-sign-petition-against-capital-gains-tax-rise-tele-d5a4365ae3d4.html?x=0

More than 17,000 readers of The Daily Telegraph have signed a petition urging George Osborne, the Chancellor, to scrap plans to increase the capital gains tax rate.
Vicars, former members of RAF Bomber Command, teachers and doctors have all written to us expressing their dismay at the proposed changes. Many are lifelong Conservative supporters, who have threatened never to vote for the party again if the changes go ahead in next week's emergency Budget....../
One letter, from an M Anderson, in Bath, reads: "I am a widow aged 90 with a single woman's state pension but no other pensions. My savings are mostly in shares I would suffer greatly if the CGT were to be increased.''
:(:(:(
*

To read the article you would think that 17,000 was somehow representative of the more than 60 million people that live in this house-price bubbleland. No mention of the ones who really do not want CGT raised: BTLers and multiple homeowners.

* :rolleyes:

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One letter, from an M Anderson, in Bath, reads: "I am a widow aged 90 with a single woman's state pension but no other pensions. My savings are mostly in shares I would suffer greatly if the CGT were to be increased.''

That's the funniest thing I've read all day. Ok, own up, who sent that one in?

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http://uk.finance.yahoo.com/news/cgt-17-000-sign-petition-against-capital-gains-tax-rise-tele-d5a4365ae3d4.html?x=0

More than 17,000 readers of The Daily Telegraph have signed a petition urging George Osborne, the Chancellor, to scrap plans to increase the capital gains tax rate.
Vicars, former members of RAF Bomber Command, teachers and doctors have all written to us expressing their dismay at the proposed changes. Many are lifelong Conservative supporters, who have threatened never to vote for the party again if the changes go ahead in next week's emergency Budget....../
One letter, from an M Anderson, in Bath, reads: "I am a widow aged 90 with a single woman's state pension but no other pensions. My savings are mostly in shares I would suffer greatly if the CGT were to be increased.''
:(:(:(
*

To read the article you would think that 17,000 was somehow representative of the more than 60 million people that live in this house-price bubbleland. No mention of the ones who really do not want CGT raised: BTLers and multiple homeowners.

* :rolleyes:

I signed 17001 letters to various politicians (all on recycled paper) pleading with them to return to conservative policy put in place by Mr Lawson in 1988 - up to 40%. Funny, he was a Conservative and his policy lasted almost in tact to 2007. The poor old pensioner of 90 must remember her annual exemption of £10,100 gains pa and using those, she'll probaly be able to sell a good many shares each year to get by, if she actually needs to.

It is all such a put up false campaign. David Davis has already let the cat out of the bag on the Andrew Marr Show. There will be a headline rate of something like 40% for higher rate earners, but reliefs will be there, to get you out of much of it for long held assets etc etc. In fact that was always so with eg commercial property - rollover relief, unquoted shares etc

It was a very complicated tax and no doubt will be once again.

Edited by plummet expert

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I signed 17001 letters to various politicians (all on recycled paper) pleading with them to return to conservative policy put in place by Mr Lawson in 1988 - up to 40%. Funny, he was a Conservative and his policy lasted almost in tact to 2007. The poor old pensioner of 90 must remember her annual exemption of £10,100 gains pa and using those, she'll probaly be able to sell a good many shares each year to get by, if she actually needs to.

It is all such a put up false campaign. David Davis has already let the cat out of the bag on the Andrew Marr Show. There will be a headline rate of something like 40% for higher rate earners, but reliefs will be there, to get you out of much of it for long held assets etc etc. In fact that was always so with eg commercial property - rollover relief, unquoted shares etc

It was a very complicated tax and no doubt will be once again.

Rollover relief. Now there's a nice thought.

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One letter, from an M Anderson, in Bath, reads: "I am a widow aged 90 with a single woman's state pension but no other pensions. My savings are mostly in shares I would suffer greatly if the CGT were to be increased.''

Why, is she planning to sell them before she dies? She'd better get a move on then.

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41,234,678 eligible adults did not sign the petition.

Does that mean that a tiny minority want to protect the interests of BTL and multiple homeowners (residential polygamists*)?

* Coined this 14th day of June, 2010 :lol:

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Has anybody on here heard back from their MP after sending a letter to campaign for the CGT increase? My conservative MP replied within a week.

His response was.....

".... As you rightly point out, the coalition agreement calls for a substantial increase on Capital Gains Tax for non business assets. I believe that this change should include a taper relief system to help incentivise those who hold assets for the long term".

This looks like a step in the right direction to me, shame about the taper relief though!

Edited by daves mum

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Rollover relief. Now there's a nice thought.

Rollover relief. You could get it only on a Sunday Morning under Labour. The Tories plan that you may have it three times a week and you can add it to your annual relief.

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Only 17,000 votes lost? Sounds like CGT hikes are guaranteed. Anyway, I hate tax as much as they do but if I pay 40% on my hard earned income why not the same on investment income? Seems only fair!

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The acquisition value for CGT uplifts to value at date of death...her kids will be fine

If she has too much then there will be IHT instead. But then if she is very rich there are trusts and really surprising but a few complex documents later you need pay no IHT atall.

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Only 17,000 votes lost? Sounds like CGT hikes are guaranteed. Anyway, I hate tax as much as they do but if I pay 40% on my hard earned income why not the same on investment income? Seems only fair!

Glad you agree. 23% corporation tax and 18% Capital gains should just about cover it.

Did you remember to sign the petition?

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Has anybody on here heard back from their MP after sending a letter to campaign for the CGT increase? My conservative MP replied within a week.

His response was.....

".... As you rightly point out, the coalition agreement calls for a substantial increase on Capital Gains Tax for non business assets. I believe that this change should include a taper relief system to help incentivise those who hold assets for the long term".

This looks like a step in the right direction to me, shame about the taper relief though!

This was mine wot I got...

Thank you for your kind email, following my recent re-election to Parliament. Understandably, I am delighted and extremely honoured.

It was also good of you to copy me into the email you send directly to the Treasury regarding your concerns about future changes to Capital Gains Tax (CGT).

I absolutely believe in a lower tax economy and can assure you that the Government wants, over time, to deliver lower rates of tax, particularly for families, pensions and small businesses. The problem is the appalling budget deficit.

The Government is looking carefully at all the tax changes necessary to repair the hole in the public finances we inherited from the previous government. We are doing so in the context of trying to create a fair and credible plan where the main burden of deficit reduction is borne by reduced spending, rather than increased taxes.

The Government has made clear that it plans, over time, to increase the income tax personal allowance to £10,000, funded, in part, by increases in CGT rates for non-business assets.

There are a range of options to be considered before any changes to CGT are made and it will be important to work to get the detail right. I think, for example, that the current disparity between rates of CGT and marginal income tax presents a problem and that these rates can be brought closer. The Government will seek ways of taxing non-business capital gains at rates similar or close to those applied to income, with generous exemptions for entrepreneurial business activities. Ministers are working with officials to set out a precise definition of non-business capital gains which is mindful of the points raised by our constituents.

I am particularly concerned about the impact of changes to CGT on self-reliant people who have made investments to prepare for the future – as you mentioned. However, I am aware my Ministerial colleagues are considering ideas such as making any new CGT rates subject to a generous taper relief.

Thank you again for taking the time to contact me.

For the record, that's exactly what I didn't mention!!

He doesn't read my emails very carefully, and I've now had to ask him to re-think his responses a couple of times, based on what I actually said - not what prompted the Standard Tory Template Response.

"Self-reliant people... generous taper relief..." My feckin' ar$e. I still think he has no idea who I am, even though I've worked with him on at least three local campaigns.

I reckon he's convinced I'm some dreadlocked, combat-pant-clad loony, with a dog on a string - I'm so looking forward to disappraising him of that notion very soon :D

Still, I've had three similar responses from him, from Vince and from the Treasury.

This is obviously a standard template they've been sticking out there, in response to just about any email that happened to say "CGT" somewhere in it. I guess we can expect no more for now, disappointing though it all is.

B

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41,234,678 eligible adults did not sign the petition.

Not only that, but it was still only 17000 who signed the petition after 2 weeks of ramping and spin in the Telegraph and Mail. I've seen petitions on the Downing St web site with more signatories than that, which did not had any kind of mainstream media attention.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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