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Taxation is a perennial
concern of the private shareholder, many of whom are retired and live on
relatively small and relatively fixed incomes. Changes to taxation for this
minority of the electorate can have disproportionate and unanticipated
impacts.
The constant changes and undue additional complications in tax legislation
in recent years, have also made it more and more difficult for the private
investor to know where they stand. Trying to calculate your own capital
gains tax has become increasingly impractical, unless ones affairs are
relatively simple.
One particular issue
raised by UKSA in the past was the loss of corporation tax credits for non
taxpayers - see Taxing_Dividends_1998.
As regards Capital
Gains Tax, back in 1997, UKSA
proposed an alternative structure to give individuals more control, and stop
the discrimination in favour of collective investment funds, which is
covered in the following documents:
CGT_Account and CGT_Account_Letter.
In February 2008 UKSA expressed concern about the impact of
the proposed changes to Capital Gains Tax and issued the following press
release and associated note: Press057_CGT
and Press057_CGT_Note. We are
particularly concerned about the taxation of gains arising from inflation as
if they are real gains, when they are not. |
