Equalise Income Tax and Capital Gains Tax

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Equalise Income Tax and Capital Gains Tax

Petition Details

Currently the Income Tax rates are twice those of the Capital Gains Tax rates.

These should be equalised.

2020/21 tax year rates were as follows, including NIC's:

Income Tax rates - 32% (29% SE), 42% & 45%.
Capital Gains Tax rates - 10% & 20%. Except for a few exceptions.

Additional Information

Capital Gains are, in the majority (62% in 17-18), made by people with gains of over £1M.

When National Insurance Contributions are taken in to consideration people generating income through Capital Gains are paying a third (lower rate) to half (higher rate) of those in employment.

This is entirely unfair. It's as simple as that.

If the systems were equalised the income to the UK economy could gain an estimated £60 billion additional tax.

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