Equalizing income tax and cap gains
What is the reform voter's view on this?
Wes Streeting is suggesting that this is one of the first policies he'll implement when he gets in charge. I totally understand the metaphor of the hard working doctor paying 40% tax to a landloard who pays a much lower tax on the rental income through dividend.
I'm an entrepreneur and have a venture backed biz that is doing well. I earn well but the main payout for me will be when I exit my company.
Let's say for instance I am fortunate to sell my stake for £20m. My choice is
Pay £10m to stay in the UK
Pay £100k and live in the Athens Riviera in Greece, or £300k in Milan, or any mainland European country with the same flat tax approach.
I'm aware it's the smallest violin ever, but I've created 300 or so jobs in the UK, but I am obviously going to do what's best for my personal situation and emigrate.
I don't see why any entrepreneur wouldn't do similar