A Discredited Tax: The Capital Gains Tax Problem and Its Solution

40 per cent accruals argument Barry Bracewell-Milnes boundary Budget business assets capital gains realisations capital gains tax changes charge to capital corporation tax cost countries death disposal economic effect entrepreneurs equity exemption Finance Finance Act 1965 fiscal funds gains tax rate hold-over relief holding period IEA Readings income and capital income tax income tax rates increase inflation inheritance tax Inland Revenue investment investors John Chown Lawrence Lindsey Lawson liability lifetime gifts Lindsey long-term gains losses lower capital gains marginal rate Memorandum of Dissent million Nigel Lawson OECD ordinary income portfolio profits progressive taxation proposals rate cut rate of capital rate of income rate of tax saving short-term gains small companies tax base tax capital gains tax gains tax on capital tax rate reduction tax revenues tax system taxable taxation of capital taxpayers tion Treasury unquoted companies venture capital venture capitalists yield