We know that Rishi has to raise a lot of cash, and the rumour is that CGT will be hiked to help pay for both lockdown and Brexit (the bill for which will easily outstrip the cost of the virus). Would that really be a disaster? It’s unlikely to lose votes in many former mining communities in the North of England. The majority of those who might occasionally have to pay it don’t usually have a clue what the rates or allowances are and assume they tie in with income tax; which I think is probably the plan. Or he could at least make the rate the same for shares and other investments as for property gains. A shoo in. I’d say.
“Why most won’t need to worry about IHT on pensions”
Many a government has made the point that only a minority will be affected by this or that tax change or tinker. It is, however, both perception and aspiration which are important, and they are what makes IHT the ‘most hated’ of all taxes – along with all the others, of course.
