People living in Notting Hill, west London, received more in capital gains from 2015 to 2019 than the combined population of Liverpool, Manchester and Newcastle according to an analysis of capital gains tax.
Analysis of anonymised personal tax returns found that 97% of the population never receive any capital gain, and those that do are very likely to be among the very richest who benefit from the tax rate being lower than that earned on income from a salary. In fact, half of gains for “the entire country go to as many people as could fit in the Albert Hall”, researchers said.
