Will the 50% Tax Rate in April Start an Exodus

  jakimo 12:42 04 Oct 2009

of high earners,... will the lifestyle they enjoy in the UK keep them here, or will there be so many loopholes in the tax law that it wont make much difference anyway?

click here

  Quickbeam 13:08 04 Oct 2009

I won't have to leave...

  john bunyan 13:09 04 Oct 2009

Maybe, but it is up to them and if too many go the government will have to decide if the numbers leaving cost more or less than the extra revenue from those remaining. I imagine some will try to commute (footballers etc) but there are rules that, I think, you can only spend 180 days here if not tax resident.

  OTT_Buzzard 13:16 04 Oct 2009

I think a very small number of very high profile people will make a lot of noise and leave. That in turn will have the press trying to give the population the impression that an exodus is underway.

In reality, I don't think that many people will leave since 50% tax brackets (and higher) exist in a lot of other countries.

  Forum Editor 13:33 04 Oct 2009

the country that has provided her with the means to live anywhere she chooses, and of course she's free to do so.

I'm tempted to turn up at the airport and wave goodbye, but I hate big crowds.

  DieSse 14:18 04 Oct 2009

"...the country that has provided her with the means..."

I don't think so - I think she's earned her own dosh, one way or another.

Mind you, I agree with the view that she's overrated - her and loads of others.

  DieSse 14:24 04 Oct 2009

On a more serious note, higher taxes have usually been shown to produce lower tax yields. Whether 50% is enough to make more than a token difference one way or another is open to debate.

The biggest scandal is the amount of tax loopholes, which enable the better off to pay less than the "going rate" by means of "financial arrangements".

We'd (or should I really say you'd, as I don't actually live in the UK) be better off with a fairer, much simpler, tax system - which didn't need higher rates and wasn't open to financial "manoeuvrings".

  DieSse 14:27 04 Oct 2009

And don't forget - people who earn more pay more tax without needing higher rates (if you forget about "arrangements" for the moment).

  wee eddie 14:38 04 Oct 2009

Any Government that spent more time closing the loopholes that High Income Citizens use to reduce their Taxable Income would get my vote.

Oh! and they'd need to allocate some money to enforcing those regulations as well.

I am sick of hearing of Government Agencies going for easy targets among the Low and Middle Income Earners, whilst leaving the Extremely Rich and Mega Rich to bask, unchallenged, in their Tax Reduction Schemes.

  tein 15:05 04 Oct 2009

FE..LOOOL loved it!!!

  tein 15:08 04 Oct 2009

btw! i wonder how long it is before the footballers start to make a issue! £20K-£130K PER WEEK! that will no doubt hurt them!!

click here

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