Capital Gains Allowance

[Anonymous No.53389493]

Just read that CGT Allowance will be reduced to 6k in April and 3k next year. I have 6 figure stock portfolio and don't want to do any large sales in bongland and cannot cope with staying here any longer. Any countries with friendlier jurisdictions

[Anonymous No.53389533]

>>53389493
God fucking damn it these thieving fucking bastards can’t let a normal man make money any possible way

[Anonymous No.53389538]

>>53389493
Also bong here, I moved to St kitts and Nevis. If you don't mind it's like 80% niggers it's alright, used to be a colony so they all have names like John Smith while being the blackest fuckers you ever seen. Tax haven and you get citizenship w/ passport when you buy property on either island

[Anonymous No.53389630]

just go and live in different countries for 3 months each and then you're a tax resident of nowhere. and you might even get laid for once

[Anonymous No.53389846]

>>53389533
It sucks. But it's bullish. Just means that somewhere in the mix there are truly valuable assets that they are trying to gatekeep. ISO20022 compliant Cryptos I would imagine. Still buying my XRP, Rishi.

[Anonymous No.53389921]

>>53389493
>stock portfolio
If they're just stocks why aren't they in an ISA?

[Anonymous No.53389923]

>>53389493
Sorry, I 'm going to look like a brainlet for asking this, but what does this mean? I am pretty new to all of this, so I'm curious.

[Anonymous No.53390507]

>>53389493
lol, even the socialist government in Mexico is more friendly to stock investors than bongland.

[Anonymous No.53390573]

>>53389923
currently you can take 12k profit tax free/year, anything above that you have to pay capital gains tax which is 10-20% depending on how much. the allowwance is going to be reduced to 6k then 3k, and all the normies are clapping because they are stuck waging and don't own any stocks/crypto etc, when in reality it just makes them poorer, because clearly the rich are already paying capital gains, it's just poor fucks like us who are trying to make a few grand who are getting punished. it will hardly raise any money for the government either

[Anonymous No.53390684]

Dude, capital gains is paid on your gains not the gross value of your portfolio. Just take your allowance out now, put the rest in tax free stocks and shares ISA

[Anonymous No.53391023]

>>53389493
Just don't pay it

[Anonymous No.53391102]

>>53390573
>going to be reduced to 6k then 3k
that's not to go after the sock/crypto traders. they're going after casual eBay and etsy sellers.

[Anonymous No.53391135]

>>53391023
This
If they ever catch on I will transfer everything to a tax haven shell company or physical gold and move to America illegally off grid.

[Anonymous No.53391163]

>>53391102
they will simply de-list their items and sell elsewhere, everything this government touches turns to shit

[Anonymous No.53391189]

>>53391163
They're doing it on purpose. They fucking hate us.

[Anonymous No.53391327]

>>53389533
Pay your dhimmi tax to paki sunak goyim

[Anonymous No.53391395]

>>53389493
I have a lot of equity from the company I work for. If I was in Minecraft, I would create a holding company in the Seychelles, sign over all of my assets and liquidate there.
I cannot emphasise this enough: this is not real world advice. It's just that in Minecraft you don't have to worry about corporation tax or CGT if you incorporate in the Seychelles or Virgin islands and it only costs like £5k to do that through a solicitor. Do not do this in real life, the government needs your money to pay for third world sand niggers, single mothers and heroin addicts. That's the future of our nations.
Thank you for coming to my TED talk.

[Anonymous No.53391443]

The really daft thing is that the capital gains allowance was a reason for some yo vote Conservative rather than Labour. Now with it being slashed to 6k then 3k it's so low it barely matters anymore.

May as well just vote Labour and not have to put up with sewage getting pumped into rivers.

[Anonymous No.53391574]

>>53389493
Top kek you bongs are treated like fucking animals, you must be animals to get treated like that

[Anonymous No.53391605]

>>53391395
Thanks I really enjoyed this minecraft lets play

[Anonymous No.53391664]

>>53389493
As a retard how does it work? If I have 2 ISA's with Fidelity/HL which add up to 6 figures, how much tax would I pay if I cashed out? Does the ISA protect you from all tax?

[Anonymous No.53391670]

>>53391574
>>53390507
>>53389533
The max Capital Gains rate in the UK on assets that aren't property is 20%. And only 10% up to a combined £50k of income and Capital Gains. The UK isn't even close to being the worst on this front, even with the reduced allowance.

[Anonymous No.53391684]

>>53391664
Yes, the ISA protects you from paying any Capital Gains tax

[Anonymous No.53391784]

>>53391684
Theres a limit to what you can put in an isa though

[Anonymous No.53391842]

>>53389493
jersey has no cgt

[Anonymous No.53391927]

>>53391784
Yeah there is a limit of £20k/year, but >>53391664 seemed to imply that he already had 6 figs in his ISAs

[Anonymous No.53392246]

>>53391443
As pointed out elsewhere in the thread, the CGT allowance, whilst nice, is not a huge deal for anyone making actual decent money compared to CGT %.

The Tories cut the allowance whilst leaving the actual CGT rate unchanged. Now that IS a huge fucking deal. All the proles in the country got fucked by an increase in NI and rampant inflation shoving them into a higher tax band. CGT chads are still paying 20% at most vs 40-45% income tax + 13.5% (I think) NI + Employer's NI contribution (which fucks everyone working private sector in the UK, which admittedly isn't many anymore).

Given the political sentiment in the country right now, it's amazing this has slipped through unnoticed. Expect Starmer to take action though. There's basically a timer running right now to get your money out before UK speedruns 20th Century Argentina.

[Anonymous No.53392267]

>>53391670
This. It's an actual gift.

[Anonymous No.53392302]

>>53391664
You are OK for now I'm sure next step is to cap ISA
what went wrong bongs? came to the island escaping socialism and it's only been downhill since. Joining the PIGS in a decade but with shitty food, weather and women

[Anonymous No.53392327]

>>53392246
if it was only that...
losing child benefit over 50k
stealth 60% tax 100-125k
These fuckers are killing us midclass wagies

[Anonymous No.53392372]

>>53392327
Wow, fuck. I honestly don't know how we still have a middle class

[Anonymous No.53392393]

>>53391927
6 figs total (deposits + profit). None of the profit can be taxed, no matter how big.

[Anonymous No.53392451]

>>53392302
The absolute majority of voters survive on state largesse- benefits/pensions/public sector sinecures. Hence they support electoral politics that targets the dwindling minority (all those 'rich toffs' hiding somewhere) to support their lifestyles. And this isn't a Labour vs Tories thing, both parties are now equally complicit, although the Labour government will probably stamp the accelerator a little harder

[Anonymous No.53392463]

>>53392451
*The next Labour government

[Anonymous No.53394030]

>>53391443
Everyone here is catching on that the Conservatives and Labour are the same party now, they just have a dance about who has the better policies because they want to be the one in control of implementing them.

[Anonymous No.53394107]

>>53390573

Even with 0 allowance the UK has fantastic capital gains compared to most countries. Stop whining. Its only 10% up to 55k, then 20% over if its your sole income.
You can cash out 100k gbp a year and only pay like 15k in taxes even with 0 allowance.

Most countries are way, way fucking worse. Stop fucking crying. I moved out if the UK but am from there and i live in Japan where its taxed in the worst fucking possible way. Most other countries are similar.

So tired of my countrymen bitched about crypto tax at home. Its fucking good.

[Anonymous No.53394192]

>>53392451
The irony is the actual rich toffs get off lightly since they have assets instead of incomes and borrowing instead of realising gains. The middle class pays for the working class to live while also taking abuse from them on behalf of the said toffs. Personally I'm done with the UK, the chavs and toffs can eat each other.