GREAT BRITAIN IS ABOUT TO RAISE TAXES TO AN ALL-TIME LEVEL

It became known that the Government of the UK was actively discussing the upcoming tax hike on the sale of assets and real estate.

This will be the largest tax hike in decades, according to the British media reports. The tax on the sale of real estate can rise from 18 to 20%. When it comes to the sale of assets, it is planned to increase the rate from 10 to 20%.

If we are talking about a citizen who pays the taxes at an increased rate, then the amount of fee can grow up to 40%.

Previously, this figure was at around 28%. The corporation tax may rise from 19% to 24%.

It is assumed that all these measures should help the UK survive the pandemic, as the country has experienced the serious budget losses and economic contraction. British businessmen have already actively responded to these messages, saying that the measures will only exacerbate the problems in the economy, since the entrepreneurs have not recovered from the coronacrisis yet.

It is worth noting that in the second quarter of 2020, the UK economy experienced the most serious decline in history - the contraction reached 20.4%.