In accordance with the IFS Capital features tax reform report, Downing Avenue ought to take steps to make the general tax regime “fairer” and “much less dangerous to financial development and well-being”.
The IFS mentioned that CGT charges are “unfair and create a spread of undesirable distortions”, with fees various throughout completely different units of property and being decrease than earnings tax charges.
“The design of the tax base is flawed,” the report learn. “In the end, by discouraging saving, funding and risk-taking and distorting who holds property and for the way lengthy, it reduces productiveness and well-being.”
Reeves urged to…
