How does the UK’s capital gains tax compare to other nations?
Miles Dean, Head of International Tax, comments in City A.M. regarding the recent proposal to raise capital gains tax.
Miles’ comments were published in City A.M, 20 November 2020, and the full article can be found here.
“A top rate of capital gains tax (CGT) of 40 per cent would make the UK an outlier, even in Europe, City A.M. analysis shows.
The Office for Tax Simplification recommended last week that chancellor Rishi Sunak double the rate of tax on capital gains…
Miles Dean, tax expert and head of international tax at Andersen, last week warned raising CGT in an interview with City A.M.
He said raising the top rate of CGT would “result in wealthy foreigners shunning the UK, wealthy Brits leaving and the Conservatives signing their own death warrant.”
If Sunak did double the top rate of CGT, it would reach 40 per cent.”