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British millionaires don't like their democracy [Copy link] 中文

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Post time 2012-12-7 09:50:19 |Display all floors
{:soso_e101:}
Two-thirds of millionaires left Britain to avoid 50p tax rate


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In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.


This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.


The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.


It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.
George Osborne, the Chancellor, announced in the Budget earlier this year that the 50p top rate will be reduced to 45p from next April.


Since the announcement, the number of people declaring annual incomes of more than £1 million has risen to 10,000.


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Post time 2012-12-7 17:08:12 |Display all floors
They didn't move anywhere they just used legal Tax avoidance schemes.

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Post time 2012-12-7 20:00:41 |Display all floors
Hurdy-Gurdy Post time: 2012-12-7 17:08
They didn't move anywhere they just used legal Tax avoidance schemes.

Yup - rich keep on getting richer and playing the system

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Post time 2012-12-7 20:28:47 |Display all floors
I'm not rich,never will be
50p does seem steep.
ExJ.H

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Post time 2012-12-7 20:30:19 |Display all floors
If tax rate gets too high business will concentrate more on how to avoid tax than creating wealth and growth
ExJ.H

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Post time 2012-12-7 21:53:59 |Display all floors
laincoubert Post time: 2012-12-7 20:28
I'm not rich,never will be
50p does seem steep.

because everyone knows that those tax money will gone into those officials pocket~
you u guys are bread feeding your Prince and Princess~
Congratz~
盡忠報國

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Post time 2012-12-8 09:27:38 |Display all floors
slimpanda Post time: 2012-12-7 21:53
because everyone knows that those tax money will gone into those officials pocket~
you u guys are  ...

That is what free press told you, isn't it?

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