Tag: CGT - Tax Policy Associates

Posts tagged "CGT"

Companies House filing showing Nikolay Storonsky changing his residence from UK to UAE

Oct 11, 2025 Analysis

Could we have stopped Revolut’s founder from leaving the UK?

Nik Storonsky, the billionaire founder of Revolut, has reportedly left the UK and become tax resident in Dubai – a move that could save him more than £3 billion in UK capital gains tax. His departure raises a larger question for the UK tax system: could we have stopped him leaving? Either with the carrot […]

houses

Aug 21, 2025 Analysis

Will Labour tax your house sale? Why CGT on homes makes no sense

Reports suggest Labour may introduce capital gains tax on home sales in the Autumn Budget. It sounds like an easy revenue raiser – but the evidence shows it would slash transactions, gum up housing chains, and could even collect less tax overall. With stamp duty already doing huge damage, the last thing we should do […]

a confused woman facing both ways

Apr 12, 2024 Analysis

Are you living with your spouse? The unreal world of capital gains tax

It’s very hard for normal people to understand tax legislation, and it’s often equally hard for tax lawyers, unless they have a deep familiarity with the rules. Here’s an example, promoted by the Angela Rayner CGT controversy (although I don’t believe this point has any bearing on her position). A couple who are not living […]

Angela Rayner

Feb 29, 2024 Analysis

Did Angela Rayner fail to pay CGT on her house sale?

There is currently press speculation that Labour Deputy Leader Angela Rayner failed to pay CGT on her house sale. Ms Rayner’s statement suggests she may have misunderstood the law. In some scenarios that could mean she failed to pay CGT of up to £3,500, but potentially less or zero. The amount of tax involved is […]

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News > UK > UK Politics

Rishi Sunak saved over £300,000 due
to capital gains tax cut he voted for

PM facing calls for reform to capitals gains tax rate after his mammoth income revealed

Political Correspondent, ¢ Thursday 23 March 2023 16:06 GMT

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Feb 28, 2024 Policy

The UK tax system favours capital gains. Is it an outlier?

The recent publication of Rishi Sunak and Keir Starmer’s tax returns brought into focus the large difference between the marginal rates of tax on employment income (47%) and capital gains tax (20% for shares; 28% for real estate). Many people propose closing this gap. But how unusual is it in an international context? What do […]

UK capital gains tax - revenue as % of GDP
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0.4%

0.3%

0.2%

0.1%

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Feb 10, 2024 Analysis

The history of UK capital gains tax in five charts

There’s an updated and much more detailed analysis on CGT here. The chart above shows what happens if you plot UK capital gains tax revenues as a % of GDP since 1978. It looks mad. Income tax revenues, by contrast, look much more sensible: What on earth is going on? Politicians fiddling with the rules. […]

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Oct 6, 2023 Analysis

Did the Good Law Project just kill carried interest?

The “carried interest loophole” means private equity executives pay tax at the low, low, capital gains rate of 28%, and not the 47% rate that an equivalent banker would pay. Earlier this year I wrote a slightly controversial paper, published in the British Tax Review, which suggested that the loophole didn’t actually exist. I said […]

Lord Sugar tried to avoid £186m tax
payment as a non-UK resident

The peer didn't realise that being in the Lords automatically made him based in

Britain

Sep 10, 2023 Analysis • Policy

Why Alan Sugar failed to become a tax exile, and why so many others succeed.

The Sunday Times has a remarkable story that Lord Sugar tried to avoid tax by leaving the UK for Australia. The idea was that he’d cease to be UK resident, and so would escape £186m of tax on some very large UK dividends. Somehow neither Sugar, his team, or his advisers ever thought to do […]

Shape of the UK tax system, 2021/22, all taxes raising £1bn or more

Corporation tax Council tax
£68bn £35bn

Fuel duties
£26bn

National insurance

£158bn

Alcohol

Stamp duties £13bn
£19bn

Income tax
£233bn

Oct 11, 2022 Analysis

The UK tax system in five infographics, and what we can learn from the fact they are boring

The chart above shows the composition of the UK tax system – the contribution made by each of the different taxes. It must have seen dramatic changes over the last forty years: Not really: Or, over a longer period, and as a % of GDP: The same data, but normalised so it shows the share […]