News
Policy Report: Reforming the Taxation of Carried Interest: Revenue Modelling
In this new Policy Report, CenTax assesses how much revenue could realistically be raised from increasing the tax rate on carried interest. This debate has so far been distorted by a lack of quantitative evidence on key characteristics of the carry population relevant to their mobility, with public discourse instead driven exclusively by anecdotes and assertions from industry insiders. This report aims to provide a corrective based on analysis of de-identified tax data covering all individuals who received carried interest between 2017-2023.
Policy Report: Inheritance Tax reliefs: time for reform?
This new Policy Report looks at Inheritance Tax (IHT) reliefs and their role in driving differences in effective tax rates across estates. While IHT nominally applies at a flat rate of 40% to estates over £325,000, most estates do not pay anywhere near this thanks to the proliferation of allowances, exemptions and reliefs.
News release: A quarter of £10 million+ estates pay less than 9% Inheritance Tax
A new CenTax report finds that a quarter of estates worth over £10 million pay less than 9% Inheritance Tax, thanks to uncapped exemptions and reliefs.
One in six estates worth over £10 million currently pay an effective tax rate of less than 4%, even among estates not eligible for the (uncapped) spouse exemption, whilst another quarter pay close to the 40% headline rate of Inheritance Tax (IHT). These huge disparities are driven by the use of allowances, exemptions and reliefs, including Business Relief, Agricultural Relief.
News release: Reform Capital Gains Tax to make it fairer and more efficient – and raise £14bn
Reforming Capital Gains Tax would raise £14bn while making most Capital Gains Tax payers better off and boosting growth., finds a new report from CenTax. The report marks the first independent analysis of potential CGT revenues using the same data available to government.
News release: Boost growth by equalising Capital Gains Tax rates with Income Tax rates
A new report from CenTax argues that Capital Gains Tax rates should be equalised with Income Tax rates to support productivity and growth.
News release: UK should have a Capital Gains ‘exit tax’
The UK should have an ‘exit tax’ like Australia and Canada, argues a new report from the Centre for the Analysis of Taxation (CenTax).
The UK is an international outlier in not charging Capital Gains Tax (CGT) on people who leave the country. The authors calculate that this is costing the UK at least £500 million per year in foregone CGT, although the true figure is likely to be much higher.
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