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Think tank proposes overhaul of UK tax system

News Team, 10/09/2019

Capital gains should be taxed at the same rates as income from employment, the IPPR Commission on Economic Justice has argued.

Additionally, it believes separate reliefs applied to capital gains tax (CGT) should be abolished.

Capital gains tax rates are substantially lower than they were pre-2008, and are currently taxed at much lower rates than income from work, the think tank noted, as it argued that “lower tax rates for the wealthy than for ordinary earners are fundamentally unfair; they also distort economic behaviour and create opportunities for tax avoidance.”

The IPPR estimated that these changes co...


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