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

[KhunHeineken]

26 minutes ago, Nick Carter icp said:

 

  I don't really believe that 

It doesn't really matter what you believe though, does it?  The facts speak for themselves. 

[MalcolmB]

9 hours ago, JonnyF said:

I (and most others on the forum) are expats.

 Most of ours are sexpats if you want to get technical 

[Nick Carter icp]

14 minutes ago, KhunHeineken said:

It doesn't really matter what you believe though, does it?  The facts speak for themselves. 

 

   Could you show show proof to back your claims up then ?

[KhunHeineken]

4 minutes ago, Nick Carter icp said:

 

   Could you show show proof to back your claims up then ?

As an example, have you not heard of the term "company car?" 

 

The workers have to buy their own car and pay tax, insurance, registration, and pay for all the servicing.  The wealthy have the company pay for all of it, and it can be claimed back, as well as capital depreciation. 

[Will B Good]

On 1/20/2025 at 3:06 AM, Social Media said:

Many departing millionaires have relocated to other European nations like Italy and Switzerland

 

 

Only for 90 days for the UK millionaires ....most of whom probably voted for the gift that keeps giving.

[youreavinalaff]

5 hours ago, Justanotherone said:

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

That old chestnut again. 

 

You clearly know nothing about succession in monarchy.

[GinBoy2]

Curiously, the US taxes residents on worldwide income, yet still seems to have the richest in the world.

 

I thoroughly look forward to seeing Elon relocating to the UK to take advantage of your non dom policy!

[Patong2021]

One of the  most unfair tax levies is inheritance tax. It is double taxation at its worst.

It punishes those who plan for the future and who seek to  be good parents, or friends for providing for others.

A person who earns income pays tax on that income. The Inheritance tax is an additional tax on assets  gained from the prudent management of one's finances and in effect rewards those who are irresponsible or who do not save.

 

Abolish the inheritance tax.

[rocketboy2]

Inheritance tax is government theft.

[The Cyclist]

😀😀😀

 

Quote

The government is to amend controversial changes to tax rules for non-domiciled residents that were announced in October’s budget as record numbers of millionaires leave the UK.

Asked at a fringe event at the annual meeting of the World Economic Forum in Davos about the exodus of millionaires, chancellor Rachel Reeves revealed that the government would shortly table an amendment to the Finance Bill.

 

https://www.thetimes.com/business-money/economics/article/rachel-reeves-to-amend-non-dom-tax-rules-after-millionaire-exodus-s6fjr2tj9

 

What a shocker,

 

kick the **** out of taxes and people leave.

 

Tax workers too much and a life on benefits becomes a better option.

 

Tax employers too much and they stop hiring and start shedding staff.

 

And the exact opposite of what you were trying to achieve happens.

 

A lower tax take, but at least you get higher unemployment and a bigger welfare bill.