Treasury could raise £16bn a year if shares and property were taxed like salaries
The government could raise an extra £16bn a year if the low tax rates on profits from shares and property were increased and brought back into line with taxes on salaries.
Exclusive analysis of data on the 540,000 wealthiest individuals in the UK – the top 1% – shows how decades of low taxes on capital gains, a type of income mainly available to the wealthiest in society, is creating a new breed of “super-gainers”.
The findings will boost calls for reforms which spread the tax burden more fairly. The chancellor, Rishi Sunak, was criticised by members of his own party last month after increasing national insurance rates to raise billions for health and social care while leaving the earnings of the wealthiest largely untouched.
Under the current
Read more on theguardian.com
