All profits made on shares have always been taxed. One reason i have never invested in funds where taxation is charged direct to the seller.
The man i worked with always bought a lot of shares and seemed to do well, however, he could not retire early like me and is now buying used cars instead of new ones and never had a holiday. We both earned the same pay so it appears he was losing.
He did manage to buy his Mums Council house so he should be OK in retirement.
My money is all invested in tax free accounts and National savings. I still pay tax as my pensions are a lot over the tax code allowance. When i was working, i made sure i spent at least 20k a year on holidays and brand new cars since 1983 so i would not have too much when i retired.
One accountant at work once said to me that she wished she was paying 50k in tax because that would mean she had earned a lot she could keep herself