Skip to content

The big issue with regard to capital gains tax is not that it is what is used to tax carried interests in hedge funds but that it is taxed at half the rate of income, when I think all incoming pounds to a person should be taxed at the same rate.

So no personal allowances? No difference between charitable grants and payments for work? #


10 thoughts on “Rilly?”

  1. Not that I agree with Spud, but here in the US carried interest is a mega-loophole created by Chuck Schumer and his cohorts to enrich his billionaire donors. I recall some hedge fund manager who donated $5M to Schumers campaign, and the carried interest loophole saves him $1B per year in tax – $5B per year in income taxed at LTCG 20% rather than ~40% ordinary income tax.

    Pay $5M to save $1B.

  2. Revealed preference. He doesn’t own any shares, buy to let properties or other assets which will be subject to CGT. It’s a tax on other people.

  3. Bloke in the Fourth Reich

    If the professor had his way you would be taxed on transfers between your own bank accounts.

    Come the CBDC and that might happen.

  4. When Spud sold his accountancy practice, he would have benefited from ‘Taper Relief’ on his Capital Gain.

    If eligible for the maximum relief, he’s have paid 10% tax.

    the c*nt was happy to benefit from this himself, he just doesn’t want anyone else to.

  5. And his views on benefits in kind are? Shouldn’t NI be at the same rate as income tax? Why do we have taxes on expenditure, such as stamp duty, insurance premia and VAT, as well as on income and on the requirement to dispose of garbage in prescribed ways …. The list of questions about tax anomalies is endless

  6. ‘Why do we have taxes on expenditure’

    Because the government’ll tax anything they think they can get away with, Diogenes?

Leave a Reply

Your email address will not be published. Required fields are marked *