Anyway, the proposal is to tax wealth over £10m. So, your person must have wealth of £10m, plus £10m in the bank. They gain 4% - £400k and pay tax of £200k. At the end of the year they still have £20.2m.
Anyway, the proposal is to tax wealth over £10m. So, your person must have wealth of £10m, plus £10m in the bank. They gain 4% - £400k and pay tax of £200k. At the end of the year they still have £20.2m.