{"id":60666,"date":"2021-12-14T07:11:36","date_gmt":"2021-12-14T07:11:36","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=60666"},"modified":"2021-12-14T07:11:36","modified_gmt":"2021-12-14T07:11:36","slug":"taxing-multi-millionaires-equalising-capital-gains-tax-and-income-tax-rates","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/12\/14\/taxing-multi-millionaires-equalising-capital-gains-tax-and-income-tax-rates\/","title":{"rendered":"Taxing multi-millionaires &#8211; equalising capital gains tax and income tax rates"},"content":{"rendered":"<p>In a <a href=\"http:\/\/taxresearch.org.uk\/Wiki\/2021\/11\/24\/taxing-the-multimillionaires\/\" target=\"_blank\" rel=\"noopener noreferrer\">series of videos <\/a>I am looking at practical ways in which we can tackle the problems created by inequality in the UK, particularly represented by the rise in the number of multi-millionaires in our society, not least during the course of the Covid epidemic.<\/p>\n<p>One of the ways in which the UK tax system is heavily biased towards those with wealth is in the way in which it taxes capital gains. These are the profits that people make on the sale of assets that they have owned, sometimes for only a few days, and other times for many years, whether they be shares, rental properties, artwork, bitcoins or something else of a similar type.<\/p>\n<p>The UK tax system charges these to tax at rates that are about half those applied to income from work, and to add insult to injury, no national insurance is charged either. I explore what to do about this issue in this video.<\/p>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" title=\"Taxing multi millionaires - equalising capital gains tax and income tax rates\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/mSDFqbnFZJk?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>This <a href=\"http:\/\/taxresearch.org.uk\/Wiki\/2021\/11\/24\/taxing-the-multimillionaires\/\" target=\"_blank\" rel=\"noopener noreferrer\">video is one of a series<\/a>. All of the videos are linked from this page on the Tax Research wiki, which is being updated as new videos are produced.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a series of videos I am looking at practical ways in which we can tackle the problems created by inequality in the UK, particularly<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/12\/14\/taxing-multi-millionaires-equalising-capital-gains-tax-and-income-tax-rates\/\"><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":[53,35,16,106,10,50,97,179,150,194],"tags":[],"class_list":["post-60666","post","type-post","status-publish","format-standard","hentry","category-capital-gains-tax","category-economics","category-ethics","category-politics","category-tax-avoidance","category-tax-gap","category-tax-justice","category-tax-reforms","category-wealth-tax","category-youtube"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/60666","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=60666"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/60666\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=60666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=60666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=60666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}