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14 Jun 2010
17,000 people have signed a petition asking the government to stop its capital gains tax hike.
The petition was drawn up by the Daily Telegraph to lobby against the proposed raid on CGT assets such as second homes.
The coalition is set to increase CGT from 18% to "closer" to the 40% higher rate of income tax.
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Visitor comments Add your comment
Align CGT and income tax rates in a fair way
Capital gains usually arise on assets which have been held for the long term. Therefore some kind of top slicing or taper relief should apply. It is inherently unfair that a once-in-a-lifetime gain should automatically be taxed at the top income tax rate, but equally unfair that short term gains should be taxed as anything other than income.
Posted by: Robert Allen, 15 Jun 2010 | 00:00