{"id":60643,"date":"2021-12-13T07:20:10","date_gmt":"2021-12-13T07:20:10","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=60643"},"modified":"2021-12-13T07:20:10","modified_gmt":"2021-12-13T07:20:10","slug":"taxing-multi-millionaires-an-investment-income-surcharge","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/12\/13\/taxing-multi-millionaires-an-investment-income-surcharge\/","title":{"rendered":"Taxing multi-millionaires \u2013 an investment income surcharge"},"content":{"rendered":"<p class=\"s3\"><span class=\"s4\">In <\/span><span class=\"s4\">a <\/span><a href=\"http:\/\/taxresearch.org.uk\/Wiki\/2021\/11\/24\/taxing-the-multimillionaires\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"s4\">series of <\/span><\/a><span class=\"s4\">videos (the production of which has been delayed by Jack Lennon, my video editor, moving house)\u00a0<\/span><span class=\"s4\">\u00a0I am looking at practical ways to tackle the problems that millionaires are creating <\/span><span class=\"s4\">in<\/span><span class=\"s4\"> society, largely as a result of increased inequality.<br \/>\n<\/span><\/p>\n<p class=\"s3\"><span class=\"s4\">In <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/taxing-the-multi-millionaires-getting-national-insurance-right\/\" target=\"_blank\" rel=\"noopener noreferrer\">a previous video, <\/a><\/span><span class=\"s4\">I suggested <\/span><span class=\"s4\">that national insurance creates an incredibly unlevel playing field in UK taxation, with the income from wealth tax<\/span><span class=\"s4\">ed <\/span><span class=\"s4\">as a result <\/span><span class=\"s4\">at <\/span><span class=\"s4\">much lower rates than the income from work<\/span><span class=\"s4\"> is<\/span><span class=\"s4\">.<br \/>\n<\/span><\/p>\n<p class=\"s3\"><span class=\"s4\">There is an obvious way to tackle this inequality. It is called an investment income surcharge. We ha<\/span><span class=\"s4\">d<\/span><span class=\"s4\"> one in the UK for more than 20 years, but Margaret Thatcher got rid of it. It is time that we ha<\/span><span class=\"s4\">d<\/span> <span class=\"s4\">one<\/span><span class=\"s4\"> again, creating an additional 15% tax charge on income from wealth of more than \u00a310,000 a year.<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Taxing multi millionaires \u2013 an investment income surcharge\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/S139yllxeHM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p class=\"s3\"><span class=\"s4\">This video is one of a series. <\/span><span class=\"s4\">All of<\/span><span class=\"s4\"> the videos <a href=\"http:\/\/taxresearch.org.uk\/Wiki\/2021\/11\/24\/taxing-the-multimillionaires\/\" target=\"_blank\" rel=\"noopener noreferrer\">are linked from this page on the Tax Research wiki<\/a>, <\/span><span class=\"s4\">w<\/span><span class=\"s4\">hich is being updated as new videos are produced.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a series of videos (the production of which has been delayed by Jack Lennon, my video editor, moving house)\u00a0\u00a0I am looking at practical ways<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/12\/13\/taxing-multi-millionaires-an-investment-income-surcharge\/\"><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":[10,97,12,179,150,194],"tags":[],"class_list":["post-60643","post","type-post","status-publish","format-standard","hentry","category-tax-avoidance","category-tax-justice","category-tax-management","category-tax-reforms","category-wealth-tax","category-youtube"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/60643","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=60643"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/60643\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=60643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=60643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=60643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}