Super-rich use capital gains loophole to avoid tax

Roughly 9,000 people are making a total of £34bn a year in capital gains on property. Capital gains received by those taking home salaries of more than £100,000 have almost trebled, while incomes have risen by just 20%, according to London School of Economics professor Andrew Summers. The rise suggests that the super-rich are choosing to realise their income in a way that minimises tax and distorts the true picture of income inequality in the UK. The top rate for income tax is 45%, but capital gains on property is 28%, 20% on other assets and only 10% for those