The UK tax system treats certain taxpayers differently to others, which leads to inequality in terms of the amount of tax paid on similar levels of funds.
The UK tax system treats certain taxpayers differently to others, which leads to inequality in terms of the amount of tax paid on similar levels of funds.
The first instalment of Chancellor Hunt’s tax policy changes has been published in the unusually slim Autumn Finance Bill 2022.
It’s a historical thing. When CGT was introduced in April 1965 it came in at a flat 30%, which was significantly lower than tax on income at that time. Before 1962, when Financial Secretary Anthony Barber introduced a speculative gains tax, capital gains were not taxed at all.