Capital gains annual exempt amount - the exempt amount will be reduced from £12,300 to £6,000 from April 2023, further reducing from April 2024 to £3000

[StockPicker]

What you guys think of this !

Capital gains annual exempt amount - the exempt amount will be reduced from £12,300 to £6,000 from April 2023, further reducing from April 2024 to £3000

[Dougal1984]

Cut in capital gain allowance

I can barely fill up my ISA, and I use the CGT allowance to utilise multiple accounts outside of the annual deposit limit. The reduction of CGT allowance would further restrict my ability this. To be fair, we can invest 20k of new funds a year tax free, and then get an additional 12.3k of CGT and 2k of income allowance a year. Not many can utilise all 3 let alone the 20k, why not simplify it, and just have the 20k ISA allowance? Have everything outside an ISA taxable at source and at the sam…

Did you forget you already started a thread?

[dpst2022]

Wont affect me much because my tax bill is already going to be astronomical, 6000 is barely going to have an effect. I just wish the ISA allowance was bigger, I fill that 20K up so quickly.

[MaxZorin]

@dpst2022

I just wish the ISA allowance was bigger, I fill that 20K up so quickly.

Thats a nice problem to have.

[anealb]

I guess the government has to raise money some way and that can either only be done through borrowing or raising taxes. However cutting it to £3000 in 2024 is a bit too excessive in my opinion and it should’ve been fixed at the 2023 allowance of £6000. They also need to raise the £20k ISA allowance although I currently don’t use it all up but may do so in the coming years especially in this high inflationary environment we are currently in.

[Scrooge_McCodf]

@anealb

I guess the government has to raise money some way and that can either only be done through borrowing or raising taxes

Or growing the economy.

[Zrtz]

@Scrooge_McCodf

Or growing the economy.

One way of doing that is having policies that encourages people to work - many on benefits that shouldn’t be

[Zergui]

@anealb

has to raise money

When you realize fiscal policies have little to do with raising money

@Scrooge_McCodf

Or growing the economy.

Well, this exact opposite actually. It’s inflation 101, if people have less disposable income, well they will spend less.

[Scrooge_McCodf]

@Zergui

Well, this exact opposite actually. It’s inflation 101, if people have less disposable income, well they will spend less.

I was talking about ways governments raise money not tackle inflation.

[Scrooge_McCodf]

@Zrtz

that is having policies that encourages people to work

Higher taxes is not going to encourage anyone to work. Why would you bother if you can get a decent amount of cash for sitting in your pants.

[Hbomb]

That is the big problem currently, we increasingly attack those who run a successful business or invest wisely in businesses, including if they want to sell or take some profit. I know many in ‘normal’ jobs who have massively inflated pensions and work benefits but often the first to say small company directors shouldn’t be able to take dividends etc yet they don’t fully grasping cash flow, accounting principles or what it means to take that initial risk.

[Zergui]

@Hbomb

small company directors shouldn’t be able to take dividends

You don’t get it. Bosses are just stealing their employees’ work. It’s the employee who creates all the value, why would the boss get anything hmmm

[Austinckb]

WTF, are you deranged, those bosses are the ones providing the opportunity for the workers to actually earn money, the workers have put nothing into developing the business they only drink from the teat of the entrepreneur who actually put the idea together & took the risk. You need a reality check

[Zergui]

Employees’ benefits are just employees’ value created from their work that has been stolen in the first place. Entrepreneurs don’t create value for anybody but themselves.

.

I know I know i shouldn’t poor water onto burning oil, but it was too tempting