UK Exodus of Millionaires Highlights Concerns Over Labour’s Tax Policies

[Chomper Higgot]

Just now, Nick Carter icp said:

 

   Does She oppose people going to the UK to work with working visas ?

She rants about Muslims/Islam and all of a sudden she’s living in Dubai, I wonder, will she convert?

 

Stranger things have happened.

[Nick Carter icp]

Just now, Chomper Higgot said:

She rants about Muslims/Islam and all of a sudden she’s living in Dubai, I wonder, will she convert?

 

Stranger things have happened.

 

   Where do you read her rants ?

I've never heard of her before 

[KhunHeineken]

14 hours ago, Chomper Higgot said:

I don’t think it’s correct to say most millionaires pay no tax, but the range of tax avoidance schemes available to the rich provide ample opportunity for taxes to be massively reduced.

 

Buying farms to avoid inheritance tax is an example.

The meager tax they pay may as well be no tax. 

 

I did use the words "their fair share."  I accept "some" tax may be paid, but nowhere near what they should be paying.

 

Even the royals were mentioned in The Paradise Papers.   

[persimmon]

Inheritance tax ( IHT ) is probably the major factor here . Is it fair that some people just take from the system and contribute little if anything , whilst others pay many millions in tax ?

There should be a cap on the amount anybody has to pay in tax over their lifetime , maybe based on the average salary .

[KhunHeineken]

On 1/20/2025 at 4:20 PM, Nick Carter icp said:

Provide a Link please 

This was a famous case in my country, Australia, many years ago. 

 

When it hit the media and the community found out Australia's richest man paid no tax, every working Australian changed from seeing paying tax as doing their bit to benefit the country, to wanting to pay no tax as well.  

 

  https://www.wsws.org/en/articles/1998/10/tax-o15.html

 

It's become a policy platform for a minor party in recent times.

 

https://greens.org.au/campaigns/tax-billionaires

 

"For years the Liberal and Labor parties have given billionaires and big corporations special treatment, to the point where now 1 in 3 of those companies pay no tax."

 

Can you provide some links showing that billionaire pay their fair share of tax? 

[Nick Carter icp]

2 minutes ago, KhunHeineken said:

 

Can you provide some links showing that billionaire pay their fair share of tax? 

 

   I cannot, no 

[Chomper Higgot]

9 hours ago, persimmon said:

Inheritance tax ( IHT ) is probably the major factor here . Is it fair that some people just take from the system and contribute little if anything , whilst others pay many millions in tax ?

There should be a cap on the amount anybody has to pay in tax over their lifetime , maybe based on the average salary .

There already is a cap.

 

When you die you stop paying taxes.

 

Nobody pays IHT, it’s paid by the estates of dead people, the estates of dead people are not by definition people.

[Chomper Higgot]

8 hours ago, KhunHeineken said:

This was a famous case in my country, Australia, many years ago. 

 

When it hit the media and the community found out Australia's richest man paid no tax, every working Australian changed from seeing paying tax as doing their bit to benefit the country, to wanting to pay no tax as well.  

 

  https://www.wsws.org/en/articles/1998/10/tax-o15.html

 

It's become a policy platform for a minor party in recent times.

 

https://greens.org.au/campaigns/tax-billionaires

 

"For years the Liberal and Labor parties have given billionaires and big corporations special treatment, to the point where now 1 in 3 of those companies pay no tax."

 

Can you provide some links showing that billionaire pay their fair share of tax? 

For these very reasons fairness in taxation is at the core of Labour’s tax policies:

 

£170billion per year in tax breaks needs to end.

 

https://www.castlepointlabour.org.uk/our-pledges/fair-taxes/

[James105]

9 hours ago, KhunHeineken said:

The meager tax they pay may as well be no tax. 

 

I did use the words "their fair share."  I accept "some" tax may be paid, but nowhere near what they should be paying.

 

Even the royals were mentioned in The Paradise Papers.   

 

The top 1% of earners already pay 29% of the tax income.  If they only paid a meagre amount wouldn't that percentage be lower?  How much more do you think these 320,000 people should pay so the government can spaff it away on foreign aid, foreign terrorist aid, net zero insanity, quangos, DEI nonsense etc?  

 

The government takes more than enough money in tax.  If the state was smaller (25% instead of 45%) then there would be more than enough money to go around and you wouldn't need to be obsessed with wanting people who already pay significantly more tax than you to pay even more.  

[JonnyF]

12 hours ago, Chomper Higgot said:

She’s still an immigrant.

 

(Emirati)

 

You really need to learn the difference between immigrant and expat.

 

Or more accurately, stop pretending you don't know the difference in order to label expats as immigrants. 

 

[Chomper Higgot]

5 minutes ago, JonnyF said:

 

You really need to learn the difference between immigrant and expat.

 

Or more accurately, stop pretending you don't know the difference in order to label expats as immigrants. 

 

I’ve been an expat most of my working life.

 

Every single country I worked in I passed through immigration and obtained an immigration visa/immigrant work permit

it.

 

 

[JonnyF]

1 minute ago, Chomper Higgot said:

I’ve been an expat most of my working life.

 

Every single country I worked in I passed through immigration and obtained an immigration visa/immigrant work permit

it.

 

 

 

Lame. Even by your standards. 😄

 

Tourists coming to Bangkok for the weekend pass through immigration. They are not immigrants. 

[Chomper Higgot]

38 minutes ago, JonnyF said:

 

Lame. Even by your standards. 😄

 

Tourists coming to Bangkok for the weekend pass through immigration. They are not immigrants. 

Not only are expats like me immigrants, we’re also economic migrants.

I speak from decades of experience in the matter.

 

[JonnyF]

3 minutes ago, Chomper Higgot said:

Not only are expats like me immigrants, we’re also economic migrants.

I speak from decades of experience in the matter.

 

 

You can identify as whatever you like Chomps. 😄

 

But please don't push the inaccurate label onto others. By the defintion of the word, I (and most others on the forum) are expats. 

[Chomper Higgot]

9 minutes ago, JonnyF said:

 

You can identify as whatever you like Chomps. 😄

 

But please don't push the inaccurate label onto others. By the defintion of the word, I (and most others on the forum) are expats. 

You’re like me Jonny, you’re migrant.

 

Like all those millions of other migrants throughout history.

 

 

 

[JonnyF]

1 minute ago, Chomper Higgot said:

You’re like me Jonny, you’re migrant.

 

Like all those millions of other migrants throughout history.

 

 

 

 

Like I said, identity as a immigrant if it makes you feel good about yourself. I'm sure it gets you 'cred' at your Islington dinner parties. 😄

 

But you don't get to change the meaning of words to suit your agenda Chomps. I know you struggle with memory, so please allow me to remind you. 

 

[MalcolmB]

15 hours ago, Nick Carter icp said:

 

   Bur this thread is about millionaires leaving the UK now because on Labours new policies .

   (BTW, the reference is to UK Pound millionaires , NOT Lao Kip millionaires) 

 

 

They are using last years figures to claim we all left because of Labour’s policies.

There are many other reasons.

You are a bit gullible

[koolkarl]

All wealthy foreigners will leave Thailand permanently too. Pay taxes and get nothing.. dream on.

[Justanotherone]

UK , when a person dies, the first 300.000 pounds or so are tax free

 

my home country, will tax starting from a few thousands ...

 

how much did king charles pay again on his free billions? ZILTCH

[The Cyclist]

All going well for Reeves

 

Quote

UK government borrowing unexpectedly jumped to £17.8bn last month, piling pressure on Rachel Reeves to plan budget cuts before a spending review in the summer.

The figure was about a quarter higher than the City had forecast and was up by £10.1bn more than in the same month a year earlier, making it the highest December borrowing for four years.

 

https://www.theguardian.com/business/2025/jan/22/uk-government-borrowing-rises-rachel-reeves-bond-markets

[KhunHeineken]

18 hours ago, Nick Carter icp said:

 

   I cannot, no 

Ok. 

 

Most of them use the company's plastic card for every day purchases, so they even get to claim the GST / VAT back.  Basically, it makes everything around 10% cheaper for them than the average person. 

[KhunHeineken]

10 hours ago, Chomper Higgot said:

There already is a cap.

 

When you die you stop paying taxes.

 

Nobody pays IHT, it’s paid by the estates of dead people, the estates of dead people are not by definition people.

I've already pre paid my funeral back in my home country, Australia.  I did it to help the kids out, and to stop any possible arguments between them. 

 

I've paid GST (same as VAT) on my funeral, and I'm not even dead yet.  

[Nick Carter icp]

9 minutes ago, KhunHeineken said:

Ok. 

 

Most of them use the company's plastic card for every day purchases, so they even get to claim the GST / VAT back.  Basically, it makes everything around 10% cheaper for them than the average person. 

 

  I don't really believe that 

[KhunHeineken]

10 hours ago, Chomper Higgot said:

For these very reasons fairness in taxation is at the core of Labour’s tax policies:

 

£170billion per year in tax breaks needs to end.

 

https://www.castlepointlabour.org.uk/our-pledges/fair-taxes/

Billionaires have a lot of power. They "donate" to both major political parties for "favors" for whoever wins at election time.

 

Also, they can threaten to pull out of their country, taking their company and vast cash wealth with them, certainly leaving a void. 

 

Politicians bang their drum saying how they are tightening up on tax perks for the wealthy, but there's so many perks available to them that if they close one, the wealthy just start using another perk.    

[KhunHeineken]

10 hours ago, James105 said:

 

The top 1% of earners already pay 29% of the tax income.  If they only paid a meagre amount wouldn't that percentage be lower?  How much more do you think these 320,000 people should pay so the government can spaff it away on foreign aid, foreign terrorist aid, net zero insanity, quangos, DEI nonsense etc?  

 

The government takes more than enough money in tax.  If the state was smaller (25% instead of 45%) then there would be more than enough money to go around and you wouldn't need to be obsessed with wanting people who already pay significantly more tax than you to pay even more.  

Your stats fail to address the wealth divide, which shows an ever widening gap.

 

Here's an older article from my country, Australia. 

 

https://www.sbs.com.au/news/article/australians-are-the-fourth-richest-people-in-the-world-so-how-is-60-per-cent-of-the-population-living-in/kpwzndngn

 

"Household wealth is distributed unequally, the report found, with the top one per cent of Australians holding 50 times more wealth than the lower 60 per cent of the population."

 

A lot of middle class "workers" would like to pay only 29% tax.