The marginal rate can actually be as high as 55% for the self-employed.Dividend income is taxed at marginal income rates which can be as high as 50%.
Furthermore, there is no indexation i.e. the purchase price of the shares is not adjusted for inflation.
This bit is not well appreciated. If your portfolio only keeps up with inflation of 2% over 30 years you will pay 26% tax at the end.
It's even worse than that when you allow for income tax, etc. on dividends.
If I recall correctly, Charlie McCreevy abolished indexation when he reduced the CGT down to 20%.
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