Could still lose it all. Like anyone watching a race where their horse is leading I'm thinking many things. I should have invested/bet more :-(, should I put down more now before they go higher?, should I take profits before they go down again..
CGT used in the UK to have a short term rate under a year. I think CGT is a pernicious tax as is IHT and stamp duty on shares. Small exemption on some AIM shares. Only country in the world with this tax, even China does not. None of these taxes raise much ,- the law of Diminishing Returns applies which no politician understands, other than Reagan years ago. It all creates a false market, which is a very bad thing. Here in Italy much of this done away with.
I personally think the opposite, because if you are a long term holder then you should pay less. For most small holders, long term is the only way to make money. Most of the short term is done by the rich guys. But I do think that fees and expenses should be taken into account. There are hidden expenses to dealing with shares such as keeping an eye on them and reading up on them which also the small guy is at a disadvantage. Most of us have jobs. Also, time spent reading forums like this :-)
I have always felt that CGT should have some link to the period for which you hold the shares. Short speculative dealings should be fully CGT due. Long term holdings for people trying to save should have a lower CGT tax rate. There should be a sliding scale, longetivity to rate
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