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CGT needs complete overhaul not minor changes | International Adviser

OECD calls for higher inheritance tax after Covid pandemic

OECD calls for higher inheritance tax after Covid pandemic Phillip Inman Inheritance tax should become a larger slice of government tax revenue following the pandemic, according to a report by the Organisation for Economic Cooperation and Development (OECD) that warns wealth inequality will rise over the next decade unless death duties also increase. A more robust tax on inheritances that prevents the use of avoidance measures by the super-wealthy would also support efforts by governments to pay down debts incurred over the past year to cope with the Covid-19 virus, said the Paris-based thinktank, which advises 36 mainly richer nations, including the UK.

Sunak edges away from Biden-style tax raid on wealthy

Wealthy set to escape tax raid as economy surges Chancellor says Britain s tax system is already progressive as he points to promising signs for economic recovery 4 May 2021 • 6:51pm Rishi Sunak has suggested wealthy families will be spared from a US-style tax raid as he hailed the strength of Britain s surging economic recovery. The Chancellor on Tuesday said that he is cautiously optimistic about an upswing in economic growth as a string of data pointed to a sharp bounceback. Mr Sunak said that measures he announced in the March Budget should be enough to return the battered public finances to a level footing - suggesting he has backed away from a hike to capital gains tax after speculation the Treasury was preparing a crackdown.

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