Reported 2 days ago
British investors are facing a potential £5bn tax impact from Donald Trump's tax and spending bill, which proposes a retaliatory tax on foreign investments from countries with deemed 'unfair' tax systems, including the UK. This bill could levy a 5% tax on capital gains from UK investors, increasing yearly to a maximum of 20%. Analysts warn that if the tax applies to interest from US Treasuries, which the UK heavily invests in, it could lead to significant market disruption and increased U.S. debt costs.
Source: YAHOO