July 15th, 2020 / Insight posted in MKS News

FT: Mike Hayes on Chancellor’s CGT examination

The Chancellor has called for a thorough analysis of capital gains tax in a likely effort to find a new source of nourishment for the parched coffers. Exactly how a reformed CGT might look is not yet clear, or whether those who are better off will be targeted. Mike Hayes said: “The chancellor has not shown much enthusiasm for a wealth tax so far, but given that much of the population’s wealth is tied up in their homes, restricting the CGT exemption on a person’s home would enable him to tap into this vast source of wealth.”

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