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Oh okay then

Raising the capital gains tax creates perverse incentives. I own a R&D company based in Canada with a patent portfolio of about 40 patents. The value of each patent varies by the stage it is in a commercialization path toward producing revenue. A good analogy is a mine. The first stage is staking a claim to a patch of ground (the patent). The second stage is drilling to prove reserves (linking the patent to markets). The third stage is building the mine (building or contracting a factory). The fourth stage is production. At each milestone, there is an increment in value and tax liability. While I can't do much about the stage the patents are at now (ranging from 1 to 3), I can control the jurisdiction where the next increment in value will take place. If I am going to take a tax hit, I want to take the hit at stage 1 when the value is close to zero, say 25K per patent (speculative value it might develop into a producing mine) and then move ownership of the patent to a lower tax jurisdiction. The key difference is that I can walk across a border whereas a mine can't move. Of course an average of 100 middle class jobs also move with each patent to another jurisdiction. Timelines for innovation income are long, for me close to 25 years. I didn't work that long and take enormous risk for government to take nearly half the reward for none of the risk. If my company failed would government make good my losses? The rewards belong to shareholders who share the risk. My income from patent royalties is only a few percent of manufacturing revenue. The income tax (at lower rates) on manufacturing workers, logistics, management, marketing, etc. is between 30X and 40X the tax government could take from my company with higher rates. Worse, instead of collecting taxes from employed manufacturing workers, government is paying social benefits to the unemployed. Socialists are not very good at basic math.

It might be insane but Labour and their followers hate anyone who works their asses off.

Is this applied to ones primary residence or just additional properties?

It’s an ideological tax being introduced by a student-activist government.

People are ratchet! Many people cherring up the labour UK government for raising capital gains tax, not realising that this is just going to make the UK poorer, rich people might be tricked once and be forced to pay for this nonsense one time, but the next time they will not invest in the UK anymore. Luxembourg and Belgium are rubbing their hands counting on the companies moving their fiscal headquarters there.

Percieved Capital gains is just a secondary tax caused by inflation in most cases.

There is no genuine Capital gains anymore, You just need more devalued currency to buy the same thing than you used to thanks to inflation and quantative easing because of governmental fiscal incompetence.

LOL you should try to be Danish. With 39% CGT, you are almost there. I agree though. 39% is also robbery.

This is not a big issue for the average person. The £1,000,000 allowance is already plenty, if you're able to create a business and sell it with more than £1,000,000 in profit, you're probably not the average person and will be able to retire on your profit anyway. There are other allowances as well which people can use. However, if you see your business is taking off and you think selling in the future for multiple millions of profit is on the cards, you'll restructure into at least 2 limited companies. 1 would be a holding company and the other the actual business company. So the holding company sells the actually business and just be subject to corporation tax. Then drip feed the rest of the funds to yourself tax effectively and use things like pensions etc. People selling up and moving away are only going to be the rich, and as their income would certainly be set up through LTD anyway, none of the points would effect them anyway. Things like stocks can be bought in ISAs. If you have enough money to be using your whole allowance and still need to buy and sell more, then you should probably set up a LTD for it. And as for jewellery, whatever. As I always say, if you're rich and paying loads of tax you're either ignorant, too lazy or too rich to care anyway

Its not insane if you understand the impact and what they are trying to do. Stopping/dis incenticenting investment, preventing people building wealth - its all looking very socialist isn't it. Remember, they know what they are doing - it just looks stupid to us

Aren't they really targeting people who effectively dodge income tax by being paid into their company? If they really wanted to go after asset owners, they'd put in a wealth tax, not a "gains" tax. The middle-class individuals without tons of assets will be under ISA limits or will have their wealth locked as equity in their primary home.

Invest in gold and silver coins, CGT free,

Man knows budget before it's announced..

39% is massive. How can people put up with this? I can understand why so many british are moving abroad.

that's great news, maybe some people owning hundreds of properties will put them on the market before the new law kicks in, which would bring the prices to a more realistic level. Currently, buying a house for first time buyers is a nightmare and the prices are nothing short of ridiculous. Hopefully that 39% CGT kicks in soon.

So you made a video based on what? Do you think 14 years of mismanagement and corruption had a large part to play in the need for drastic action now?

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Such good advice

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I sended you a email check it out

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It was helpful bro 👊🏼

At the right moment ... Thank you Steve, and yes: more videos like this!

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Man it’s so helpful

Lol

Dubai is now Essex of the Middle East it is an utter nest of c@nts.

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Mate great video. You will only understand this if you have a business. The highs are high but the lows are low.

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'why have I started making more videos'? A: nobody cares

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