@DanNeidle do you know of any decent estimates of yields on equalising CGT with income tax? Perhaps @HelenMiller_IFS knows.
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Replying to @robertnpalmer @DanNeidle and
These are estimates of revenue from changing CGT rates from HMRC (https://www.gov.uk/government/statistics/direct-effects-of-illustrative-tax-changes …) But why equalise with income tax - should equalise with IT + all NICS, with reduced rates for cap gains on shares (because corp tax paid) - that would equalise across income sourcespic.twitter.com/LEkEuE6g4X
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Replying to @HelenMiller_IFS @robertnpalmer and
Could we project from a 1% rise to full IT higher rate? And of course should we not be aspiring (blue sky) to ending NIC?
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Replying to @iaincampbell07 @HelenMiller_IFS and
On CGT reform: what is rationale for having separate allowances for CGT (and dividends and savings, for that matter)? Other than a boon to people with flexibility to diversify sources of income?
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Replying to @Summers_AD @iaincampbell07 and
Entrepreneurs’ relief really is much too generous, isn’t it?
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Replying to @JudithFreedman @Summers_AD and
It's also not clear what it's for. If the aim is to encourage new entrepreneurs it's very poorly targetted - better to give incentives upfront. Instead, it's a big tax break to business owners who can afford to keep income in their businesses
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Replying to @HelenMiller_IFS @Summers_AD and
Totally agree. It should go, but can you imagine the headlines? I dared to suggest this at a talk I gave for an Oxford alumni group a couple of years ago and I was practically hounded out of the room by a couple of audience members.
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Replying to @JudithFreedman @Summers_AD and
Yeah - the labelling of this relief was very clever & makes getting rid of it hard (it would have been harder to defend 'retention releif'). Maybe the key is to design a better targed releif to replace it
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Replying to @HelenMiller_IFS @JudithFreedman and
Or “Rewards for the boys relief”? Maybe that’s the answer, give less cuddly labels to reliefs to limit their shelf life!
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Replying to @Ray_McCann55 @HelenMiller_IFS and
As with the right in the US and “death tax”. Ideas on a postcard please!
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Time to make this chart Robert!
pic.twitter.com/KEKoXy654k
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Replying to @MForstater @robertnpalmer and
We also need some more dimensions to record other views, eg what non-tax experts think! Maybe something like this.pic.twitter.com/vKLBbHhVeX
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