Boom Boom Posted June 22, 2010 Share Posted June 22, 2010 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. Quote Link to comment Share on other sites More sharing options...
Sceptical Posted June 22, 2010 Share Posted June 22, 2010 But, but, but you TOLD us that CGT would be 40% with no taper... Quote Link to comment Share on other sites More sharing options...
kilroy Posted June 22, 2010 Share Posted June 22, 2010 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..... Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted June 22, 2010 Share Posted June 22, 2010 28% for pretty much everyone selling property... http://blogs.telegraph.co.uk/finance/ianmcowie/100006555/budget-2010-cgt-shock-for-basic-rate-taxpayers/ Quote Link to comment Share on other sites More sharing options...
the flying pig Posted June 22, 2010 Share Posted June 22, 2010 28% for pretty much everyone selling property... http://blogs.telegraph.co.uk/finance/ianmcowie/100006555/budget-2010-cgt-shock-for-basic-rate-taxpayers/ ok, that's something. maybe they did the right thing? Quote Link to comment Share on other sites More sharing options...
salamander Posted June 22, 2010 Share Posted June 22, 2010 (edited) 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 June 22, 2010 by salamander Quote Link to comment Share on other sites More sharing options...
deflation Posted June 22, 2010 Share Posted June 22, 2010 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. Quote Link to comment Share on other sites More sharing options...
salamander Posted June 22, 2010 Share Posted June 22, 2010 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. Quote Link to comment Share on other sites More sharing options...
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