when was capital gains tax introduced in the uk
Capital gains tax Channon observes that one of the primary drivers to the introduction of CGT in the UK was the rapid growth in property values post World War II. This led to property developers deliberately leaving office blocks empty so that a rental income could not be established and greater capital gains made.[47] The capital gains tax system was therefore introduced by chancellor James Callaghan in 1965[48]
Property tax in the United States During the period from 1796 until the Civil War, a unifying principle developed: "the taxation of all property, movable and immovable, visible and invisible, or real and personal, as we say in America, at one uniform rate."[65] During this period, property taxes came to be assessed based on value. This was introduced as a requirement in many state constitutions.