Monday, May 17, 2010

Legalized Theft - UK Proposes 50% Tax on Capital Gains, Up From 18%

Those hoping that any good would come out of the alliance between Conservatives and Liberal Democrats making Conservative party leader David Cameron the UK Prime Minister (replacing Labour Leader Gordon Brown), just might need to think again.

George Osborne, the new Chancellor of the Exchequer, is pondering 40-50% taxes on capital gains, up from the current 18% rate.

Please consider Higher taxes for a million as George Osborne's emergency Budget hits investors. http://tinyurl.com/255fw49

The Chancellor is to increase duty on capital gains even though the plan was not included in the Conservatives’ election manifesto.

CGT on “non-business assetsâ€