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Originally Posted by ianch99
The net increase of wealth should be taxed. I don't care what state of sublimation their assets are in.
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You mean a capital gains tax? We have something like that, it’s called capital gains tax.
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In the same way that HMRC does not care where you money is when they send you a tax bill.
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I totally agree that the HMRC always go after the easy guy. I’ve been through this myself.
I would urge anyone, that hits the 40% bracket, to employ the services of a financial advisor/tax consultant. They’re not that expensive and future you will get down on their knees and thank you.
There are a multitude of ways to avoid paying too much tax and maximising your capital.
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Riddle me this: what would you prefer?
- the ultra wealthy keep their billions
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well if they’ve made it that’s up to them. I would hope they’re philanthropists, as many are.
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part of their increasing wealth is used to improve your local services e.g. GPs, Hospitals, Care Homes, Council services, Libraries, Youth services, etc.
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It already is, through tax.