Stocks and shares

Dear Readers,
don't you hate the UK tax treatment of shares!! There is the stamp duty when you originally
buy, so no wonder people are spread betting and trading in contracts of difference to
avoid the tax. Then, if you are lucky enough to make a profit, you have to do pesky
calculations for taper relief. Or if your tax affairs are complex, you can get accountants
to do the calculations.
On the other hand the tax affairs of most people are simple but it just needs a bit of a
share portfolio, a second home or a buy-to-let property to make tax affairs complicated.
I suppose there could be a tax onslaught on second homes both in the UK and abroad.
Houses and flats are not very mobile and so are easy to tax. Stamp duty could rise to
continental levels. I suppose there could be conflicts between individual national
tax administrations trying to raise as much tax revenue as possible from
residential property. In Spain, different rates of capital gains tax are levied on property
sales depending on whether you are resident and non-resident and I am sure countries
will try and raise the tax take from foreigners (Brits).
If you do self-assessment, don't forget the July 31st deadline from HMRC if the 2005-06
tax return has not been sent in by January 31st. There will be a second automatic penalty
of £100.