Tax

0.5% Stamp Tax on UK shares – consultation response

Abolish Stamp Duty Tax or reduce it to 0.05%  In a short, 4-page response, to the HMRC Consultation, we re-emphasised the points we made in our 2020 consultation response. Our key points were:   This consultation is fundamentally flawed. It does not discuss the rate of taxation on UK shares, which is currently 0.5% and is hugely uncompetitive with the US, which is the largest securities market in the world.  Our analysis is that:    The original rationale for stamp duty (cost of wax seal ...

Lord Lee asks Parliamentary Question about Capital Gains Tax

Baroness Penn, Treasury, has provided the following answer to the written parliamentary question (HL3755) from Lord Lee, Patron of ShareSoc: Question: To ask His Majesty's Government what estimate they have made of (1) the number of additional taxpayers who will have to complete Capital Gains tax returns as a result of the proposed reduction in threshold, (2) the amount of additional tax revenue that is likely to be raised, and (3) the extra cost of administration that will be required as a result of ...

Taxation Policy

As part of ShareSoc's work, we lobby and represent individual investors, we submit responses to Government consultations and when required we campaign for change. For example, we responded to consultations on and blogged about stamp duty, inheritance tax and capital gains tax. A recent article in the Mail highlighted concerns about a possible wealth tax and we are formulating ShareSoc's position. Please contact us if you wish to join in this debate. The Sunday Times reported on 10 April the debate in the US about a wealth tax, noting "Conceptionally ...

Royal Mail Remuneration

I always thought that being a Chief Executive and being paid millions was a 24/7 job. I am amazed the Royal Mail could not recruit somebody from the millions of people who live in the UK. I am very angry that the details of Mr Back's £5.8million payout were buried in note 26 on page 144 of the company's annual report and not explained in the first paragraph of the Remuneration Committee Chair's statement. Hiding the pay of the new Chief ...