News about Andy Summers

According to a survey by researchers who had unprecedented access to anonymized tax data, capital gains were 'absurdly concentrated' in a handful of postcodes and the most wealthy taxpayers. It was discovered that only about three percent of adults had paid capital gains tax over ten years, with the majority of adults residing in the southeast of England. More than half (52.2 percent) of the capital gains tax paid in 2020 came from 5,000 people who earned an average of £6.8 million per person in gains. The survey also found that three out of every seven pounds of gains in the United Kingdom went to people earning more than £150,000.