Britain’s financiers and entrepreneurs are leaving the country at the rate of 10 a week to avoid rising taxes, it has emerged.
The number of directors of British companies who have registered in the Channel Island tax havens of Jersey and Guernsey, along with the Isle of Man has risen by almost 500 in the past 12 months.
All three are Crown Dependencies and as such can set their own tax rates.
The British Virgin Islands, a popular tax haven in the Caribbean, has seen an 18 per cent rise on a year ago.
Those who are leaving what they see as the mainland’s punitive tax rates include highly paid bankers and hedge fund mangers along with entrepreneurs running luxury travel companies, healthcare, property firms and call centres.
The three Crown Dependencies now boast 6,729 company directors and the British Virgin Islands, a British overseas territory, 615.
Altis, a £1 billion hedge fund company with 35 staff, has relocated to Jersey, leaving only a small presence in London.
Stephen Hedgecock, a partner, said: “The UK model is broken.
“It’s not just the 50 per cent rate — it’s National Insurance, the treatment of pensions ... everything. It’s just a ridiculous amount of taxation.”
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Greece warned to act over default risk
LINK HERE
Prepare for the Great Depression.
Survival Seeds
The UK is finished, I don't see any reason why we should give a damn about them anyway. Why should they be a rich economy.... they don't have anything, they are gone...bye bye, syonara, alviderseyn, salam, alviserchi, chin chin....bugger off
ReplyDeleteThe rich have nowhere to run.
ReplyDeleteYep, but you can't do that in the US. The US is the only country in the world that continues to tax you, even if you renounce your citizenship.
ReplyDeleteThanks again, Congress.
That is because you are an owned stock asset via your birth certificate. Property of the Bank of London.
ReplyDeleteI am a retired millionaire with ZERO debt which i know is very hard to believe in this day and age. This spring my wife and I are expatriating from the U.S. after having discussed it for many years. We have sold most of our assets and are taking it all with us to start over. America is going down and we will be watching from far away. Anybody with money will likely be leaving as well because they know that to stay means they won't have it for long.
ReplyDeleteI am sorry, but you rich people posting here should be thinking more about than just this life here on earth. All I ever hear is about your money, as if that's the most important thing in this life! I agree it's probably not best to stay in the USA, but remember this, money cannot buy you health, wisdom, or happiness. Good luck! All I can say is that I hope whoever remains in the USA realises that self-reliance is actually THE BEST way to live -- grow your own food, trade with neighbours, and create a nice neighbourhood of connected people who learn to live together instead of just focusing on DOLLAR BILLS.
ReplyDeleteLol, Its funny that you say that being self sufficient is better than having a lot of dollar bills. We grow most of our own food and have solar power and burn fire wood for heat. We do it all ourselves but yet we are wealthy and retired. We are wealthy BECAUSE we have lived a self sufficient life for many years and just saved our money and invested it properly instead of getting into debt by obsessing with materialistic pleasures like all the other loosers have done in this country. You would NEVER understand that we had money by looking at us because we try our best to hide it whereas most people without money try to make it look like they are rich by having cars and houses they cannot afford. We are leaving mostly because we just don't fit in here anymore in a country of spenders and out of control materialistic debt slaves.
ReplyDeleteAnon at 9:16PM, Cheers!!
ReplyDeleteSay what? You don't continue to get taxed if you renounce your citizenship and live/work elsewhere. That's just silly talk. You do however give up your social security, though may be able to transfer it partially to your next countrys retirement system.
ReplyDelete8:21 where are you going to? Can't blame you for wanting to bail on this sewer. Just difficult to think of a place to go. Not easy. Some say go to places where the bankers have already done their damage like Argentina.
ReplyDeleteWhat sayest thou?
We are going to the crimea in southern Ukraine. Yes the government is just as corrupt in Ukraine as everywhere else but the new world order has virtualy zero infrastructure there so far. Property taxes are non existent on private property and income taxes are $50/mo flat fee on incomes of up to $100k. It may surprise people but there is much MORE freedom there than in the U.S. The dollar is strong compared to their currency so we have a huge advantage. For example you can hire a contractor there for $175/mo versus $1750+ in the U.S. this is true with all professions, medical workers $200/mo, maid for $150/mo etc. The weather rarely goes below 32f in winter and for some reason the people there love americans, lol. Oh and there is a limitless amount of beautiful women to look at too which is always nice:)
ReplyDelete5.42 it is auf wiedersehen , nicht alviderseyn .
ReplyDeleteWhy not stay in the US and buy a gun and take some of those dollars and go out and buy a bravery kit. Oh, thats right, you can't buy bravery. So then, you tree huggin cowards go leap to the land of edom where the godless live without fear of wrath from a Creator. Thanks for staying and sucking the tit till the milk ran out. I'm sure there's plenty of teets to pull on over there too. But your gonna have to find something for your hairly legged wife to pull on though. 'cuz when the wood choppins done and the wranglers come off, there aint no donut holes hangin from your yellow belly!
ReplyDeleteI know many of you hate the rich, but without the rich businesses also leave, and that equates to less jobs.
ReplyDelete11:18 it is people like you who give the right-wing factions a bad name. First, you cannot spell (Eden, not Edom, unless you're trying to talk about some new Dutch cheese or something); secondly, your mention of "tree huggers" and that such people are "godless." Get a clue. Your personal religious preference does not make you special in any way, so get off your religious high-horse. Oh, and then your mention of hairy women who are tree-huggers -- that's a sexist comment that makes you look even more ignorant and pathetic.
ReplyDeleteGET . . . A . . . LIFE!!!!!!!
11:18 cannot spell basic words like Eden. Also found more errors like huggin (hugging), and you shouldn't capitalize the word "creator" in a sentence if it's not at the beginning of a sentence; add to that teets (teats); gonna (going to); hairly (hairy); 'cuz (because); choppins (choppings or chopping's depending on usage); aint (at least use the apostrophe ain't); hangin (hanging).
ReplyDeleteWow, it's like you're so ignorant you even WANT to be SEEN as ignorant by your display of disregard of the English language. I really dislike people like you who use your anti-intellectual propaganda as a mask for your true idiocy.
This article has it all wrong...it's sad really.
ReplyDeleteClearly, raising taxes provides INCENTIVES to the wealthy to make investments, grow businesses, and create jobs.
Just look at what the US government is up to...and we all know that they know EXACTLY what they are doing.
...
I feel dirty for even joking about this.
Anon Dec 13, 3009 11:00 PM
ReplyDeleteYou should do a little research before you call someone 'silly'.
This reference is from a Tax Attorney's Web Site for Expatriates:
http://online.wsj.com/article/SB121193252276024279.html
This article is from the Wall Street Journal describing the law that prevents you from renouncing your citizenship to avoid paying taxes
http://online.wsj.com/article/SB121193252276024279.html
I will admit enforcement is a problem. But, as it was explained to me by an atty- if you EVER come back into the US or go to a US embassy you can be arrested and jailed for not paying your taxes.
So- a US Taxpayer is a US Taxpayer for life. Even if you become a citizen of another country
Sorry, I posted the same link twice
ReplyDeleteThis is the link to the Tax Atty Web Site:
http://www.taxmeless.com/page4.html