I think part is to encourage the middle class to spend.
As thatās going to boost the economy figures faster than investment.
Foe the government ideal the middle class spend everything and only save to pay their mortgage which means thier house can be sold for rhier elderly care.
Investments/saves takes money out of the active economy they want
But hopefully the āsomeoneā who makes 10k in a year outside an ISA, has already been able to afford to put 20k into an ISA.
If you invested in a globally diversified fund, lets say you gained 10% a year - a great return. You would need a balance of 40k outside an ISA to make that 4k free gain before being liable for CGT. Year on year you could switch to another globally diversified fund to take advantage of your CGT allowance.
Thats a fairly wealthy individual, are we saying thatās too low a point to start?
Agree massively with you, for anyone to even say CGT affects me means they are wealthier than most.
Man up people if tax is due pay!
The pandemic needs to be paid for. People who invest in stocks are perceived to be wealthy and will therefore be a target.
no-one is saying to not pay taxes where dueā¦ however I see a lot of elitism in the responses that are arguing in support of the change by ignoring what it means for others. having a sum of money in an account doesnāt make you wealthy, it just means you arenāt dirt-broke. Ā£40k also isnāt a lot when emergencies can occur that will drain this amount in no time at all. that sum of money could have taken a long time to accumulate and is very easy to diminish. it may be the result of an entire family pooling their assets and not that solely of an individual.
you want to pay more tax because some one else just decides you are not paying enough? then you can voluntarily give more of your money without being asked, to not even do this much would mean youāre just being hypocritic. on what basis do you have the right to determine if someone is wealthy enough to not to suffer from this change?
your answers make it very clear you donāt see yourself among those at this bottom bracket so why continue to argue that it is justified?
Iāve been at all levels in my life so raising an argument with me probably isnāt best suited. My parents in a 1 bed council house on disability allowance that wouldnāt even cover the food bill spending most of my childhood in hospitals waiting for the bad news to come. Iāve had my time Iāve just like many on here worked hard and dug in but I will never moan when our failing country needs help to pay back what we have all taken for granted.
If a family has āpooled inā as you have put it then surely that would be classed as a āgiftā so CGT doesnāt apply. If you want your cake and eat it try emigrating and see how that works out for you
This conversation seems to only consider IPO stocks, which I understand as thatās what T212 is about, but capital gains tax goes much further. The majority of people are classified as self employed rather that having their own limited business. There are much more of these people in the UK economy than are involved in IPO stocks. If you take two people who earn the same amount but one is set up as self employed and the other as a limited company, the limited company can pay less tax as the director can pay themselves dividends which comes out as capital gains tax and not their income allowance, that is the inequality which needs to be solved by the government. The idea that this is a hit on the poor is fanciful, in reality it is a hit to those who have a limited company which in general is run by those with greater financial backing to enable them to spend the time needed to publish accounts etc, this is also underlined by the fact that the majority of people classify themselves as self employed to avoid this but end up paying more tax.
That isnāt quite correct - the real difference is about paying out of dividends or paye. Thereās plenty of self-employed people that pay themselves out of dividends to reduce their tax bills - successive Govts have encouraged them to do so.
not everyone has taken benefits, a lot of people have worked throughout the pandemic but will still have the inevitable increase in income tax & CGT. whilst the government continues to spend billions on services that have been subject to considerable fraud + the millions handed out in contract to friends of GOV Plus the 12+billion wasted on the track and trace. people have will have been claiming wages for a year in march with zero incentive to look for new work
Because I donāt want to pay for the NHS or self employed grants. 
This country is a complete nanny state , we need to stop bitty and use our capital more effectively.
I lost s job earning more and so Iāve had a negative financial impact yet Iāve worked through the whole thing and now Iām paying to compensate those who ālostā out, yet I donāt receive any form of compensation all for a pathetic virus.
Iām going to Mars as soon as I can. One way ticket baby.
If the people that needed the help didnāt receive it how would you be paid to continue working? I worked through the pandemic and still am, I havenāt received anything for it but the people that are paying my business most likely are. Cake and eat it again.
Leave the poor on the street with no funding and when the rich are at home no one can sell any coffeeās
They wouldnāt be colonising mars unless they can control it, green grass and all that
No excuse for 80% furlough (up to 2.5k), ridiculous and insulting to those who remain in work.
Itās about surviving not about living la vida loca while others foot the bill.
Are you not in the stock market, profiting from the toil of others, even when youāre asleep, and on days off?
Whatās that got to do with anything. Go and read your Karl Marx collection.
Who even says Iām profiting, youāre obviously a victim, victim mentality always making assumptions, help me help me bitty.
I donāt care about others they need to sort there own lives out, losers. Take accountability for yourself like a grown adult and get real.
Hopefully you never need the state funded NHS or any other state funded service
No Iāve got my stuff together I donāt need to use others. NHS is absolute garbage as well.
Private health care still uses the NHS dont flatter yourself
You canāt survive without other people: fact. These other people are your neighbours and provide the services (like internet and stock dividends, etc.) you depend on: fact.
Youāre very angry, arenāt you.
No, Iām actually pretty calm.