{"id":46297,"date":"2019-09-28T10:07:40","date_gmt":"2019-09-28T09:07:40","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=46297"},"modified":"2019-09-28T10:07:40","modified_gmt":"2019-09-28T09:07:40","slug":"how-to-deliver-greater-wealth-taxation-in-the-uk","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/28\/how-to-deliver-greater-wealth-taxation-in-the-uk\/","title":{"rendered":"How to deliver greater wealth taxation in the UK"},"content":{"rendered":"<p>I have <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/28\/people-in-the-uk-want-wealth-taxes\/\" target=\"_blank\" rel=\"noopener\">just shared a release from Tax Justice UK<\/a> showing most in the UK want greater and more eq1uitable taxation of wealth in this country. In reation I have prepared this mind map of how to create greater equality in the taxation of wealth in this country without major tax reform or introducing a wealth tax:<\/p>\n<p><a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/28\/how-to-deliver-greater-wealth-taxation-in-the-uk\/screenshot-2019-09-28-at-10-07-01\/\" rel=\"attachment wp-att-46299\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-46299\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-28-at-10.07.01-550x808.png\" alt=\"\" width=\"550\" height=\"808\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-28-at-10.07.01-550x808.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-28-at-10.07.01-204x300.png 204w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-28-at-10.07.01-768x1128.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-28-at-10.07.01-272x400.png 272w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-28-at-10.07.01.png 1114w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>I summarise this as follows:<\/p>\n<p><strong>How to deliver wealth taxation in the UK<\/strong><\/p>\n<ul>\n<li>Equalise the tax rate on earned and unearned sources of income<\/li>\n<li>Equalise the tax rates on income and capital gains<\/li>\n<li>Equalise the basic rate of income tax and small company corporation tax rate<\/li>\n<li>Introduce an investment income surcharge of 15% on investment income of more than \u00a35,000 a year as an equivalent to national insurance for all below pension age and on incomes above \u00a330,000 for those of pensionable age<\/li>\n<li>Significantly reduce the annual capital gains tax allowance<\/li>\n<li>Remove the capital gains tax entrepreneur\u2019s relief<\/li>\n<li>Introduce capital gains on death and cancel inheritance tax to the extent that capital gains are paid on the same assets<\/li>\n<li>Introduce a capital gains tax charge on former main residences passed on death, excepting to co-habiting spouses and civil partners and recognised long term related carers<\/li>\n<li>Remove inheritance tax business property relief<\/li>\n<li>Substantially restrict the inheritance tax business property relief<\/li>\n<li>Remove the \u00a31,000 a year exemption for investment income from income tax as it duplicates ISA reliefs<\/li>\n<li>Cap the amount anyone can save in ISAs at \u00a3100,000<\/li>\n<li>Abolish higher rate tax reliefs for pension contributions<\/li>\n<li>Remove the higher rate tax relief on donations to charity<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>I have just shared a release from Tax Justice UK showing most in the UK want greater and more eq1uitable taxation of wealth in this<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/28\/how-to-deliver-greater-wealth-taxation-in-the-uk\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97,150],"tags":[],"class_list":["post-46297","post","type-post","status-publish","format-standard","hentry","category-tax-justice","category-wealth-tax"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=46297"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=46297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=46297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=46297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}