I have never understood Capital Gains Tax. If you make a capital gain, then how is that anything other than part of your income for that financial year, to be taxed accordingly like all your other income?
Notice, yet again, the use of the term "middle-class" to describe people who own more than one house. The middle of what, exactly? David Davis, who is often good, is even trying to drum up sympathy for those struggling folk of the middling sort who feel obliged to sell one of their two or more dwelling places in order to buy from private companies things that are provided free by the NHS.
Subscribe to:
Post Comments (Atom)
I have heard some folks argue that the theory behind preferential treatment of capital gains is to encourage investment. Investment in what, I don’t know. I am guessing some financial scheme that nobody understands, including the investors themselves.
ReplyDelete