ronlan

ronlan

1p

1 comments posted · 0 followers · following 0

13 years ago @ John Redwood MP - CGT · 0 replies · +1 points

This is correct and, unfortunately, the longest term investors will often be those who have retired or are nearing retirement. The particular problem of a second home owner who has been paying basic rate tax for many years but who will suddenly find him/herself a highr rate tax payer because of the new rules is really harsh and eminently unfair.

It is worth looking at what Hotscot (and oters) said on 28 June at http://forums.moneysavingexpert.com/showthread.ph...

I am extremely disappointed that a Conservative-led government has proven to be so insensitive to the situation of tens of thousands of not-particularly-well-off, prudent and independently minded retired people who will be shocked when they learn of their predicament. Indexation must be reinstated or CGT reduced dramatically or exempted for long-term gains. JR's original letter to HM Treasury dated 26 May 2010 prior to the Budget merited much greater attention than it appears to have been given. Don't give up, Mr R. There are many out here who appreciate what you are saying.