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Cgt - Common Sense Prevails

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Poor Old Sir Wince of Cable looked mightily peeved that his dream of introducing one of the most punitive CGT regimes in the world was scuppered. 28% is a sensible, and more importantly revenue optimising figure.

I especially liked the way George brought it in from midnight whilst pointing to freight train heading towards landlords (HB cap, change in calculation of HB, reduction of SMI from 6.08% to around 4.15%, saying cgt would be revisited, plus various other things that have not come to light). Much better than putting CGT to 40% in one go.....

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ok, that's something.

maybe they did the right thing?

They actually closed a loophole ? Astonishing and impressive at the same time.

I can just hear the conversation

"Let's sell our BTLs/ bonus shares. We can fiddle things so that we're 'lower rate taxpayers' and only pay 18% on our gain of 100K. Will save us 10k"

"Good idea. I'll have a word with our accountant..."




"What do you mean? The capital gain is added to income, taking us into higher rate & 28% CGT? Oh f*ck!"

As someone known to a few on here might have said:

Muahahahahahahaa !


Edited by salamander
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The OP also said yesterday (his accountancy firm told him so it had to be true) that the annual allowance for CGT would drop to £2k.

There won't be such a penalty to sell a few shares now.

Not a few no, but fiddling your salary, getting paid the rest in cheap shares in order to only pay 18% tax when you sell them at a profit appears (according to the Telegraph) not to be a gameplan that can be employed.

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