21–30 of 31 posts
It's all PR, entrenched interests.
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Yea... except they arent net tax contributors. They are taking advantage of a tax code to not have to pay. They hurt local economies.
> Yea... except they arent net tax contributors. They almost certainly are. Even if you assume they didn't earn any UK income, they were still paying VAT.
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Yea... except they arent net tax contributors. They are taking advantage of a tax code to not have to pay. They hurt local economies.
> Yea... except they arent net tax contributors. They almost certainly are. Even if you assume they didn't earn any UK income, they were still paying VAT.
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Actually this is very ignorant. I was one of these, left April 3rd. - These people contribute a lot, they employ people, start businesses, spend a lot... Most of them don't even use the NHS. All things that stimulate and contribute the economy tremendously. - In my case my nestegg was going to be taxed a lot more since it was optimised for tax somewhere else, moving it is complicated and risked UK inheritance tax whi…
But that's my point exactly. If you're not that fond of the UK, by all means go and live somewhere else and ensure your tax burden is minimized. But it's interesting that out of the 145,000 directors in the UK, only 1000 have chosen to jump ship because of these supposedly punitive new regulations. I also find it very difficult to be sympathetic to folks who feel that their large amount of money earns them the right…
It would probably have been a better idea to require periodic investments into UK businesses to increase the tax take rather than scrap it altogether. Thats said the UK requires a wider culture shift when it comes to money so it wouldn't have made much of a difference.
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But that's my point exactly. If you're not that fond of the UK, by all means go and live somewhere else and ensure your tax burden is minimized. But it's interesting that out of the 145,000 directors in the UK, only 1000 have chosen to jump ship because of these supposedly punitive new regulations. I also find it very difficult to be sympathetic to folks who feel that their large amount of money earns them the right…
Surely you must see it's more nuanced than that? The old regime worked to say that if you kept your money abroad then we wouldn't tax it but we would tax it any money you generated in country. These people were often on high wages meaning we would still get some income from them but not money that we had nothing to do with. It would probably have been a better idea to require periodic investments into UK businesses t…
I do agree that maybe there is a more nuanced approach to this which would encourage investment into UK businesses, but nobody ever said politicians were the brightest people on the planet. :)
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Surely you must see it's more nuanced than that? The old regime worked to say that if you kept your money abroad then we wouldn't tax it but we would tax it any money you generated in country. These people were often on high wages meaning we would still get some income from them but not money that we had nothing to do with. It would probably have been a better idea to require periodic investments into UK businesses t…
I understand completely what you're saying, but I've got a feeling this new regulation is aimed at those who don't earn any money in this country and therefore don't pay any tax in this country - even though they're living here taking advantage of the benefits and infrastructure etc. I do agree that maybe there is a more nuanced approach to this which would encourage investment into UK businesses, but nobody ever sai…
The problem here is the way they are implementing it, right now you would still pay taxes on brining money to UK, also all of those people who happily pay certain amounts or smaller percentages on % of foreign income to live in the UK. However 45% of income made completely outside of the country is a robber and people are leaving to UAE, Italy, Switzerland. Italy is charging 200k flat now a yearn UK they would pay more. Also office of companies are getting relocated, they stop spending money here, they would pay higher to stay in UK.
So if you say you were to get 300-500k per year from those people and now you get 0, and thousands of people leaving it goes to billions in budget loss
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> Yea... except they arent net tax contributors. They almost certainly are. Even if you assume they didn't earn any UK income, they were still paying VAT.
So you're saying its worth it to keep these guys because while they do cheat the system to not pay MILLIONS in taxes. Through VAT they do pay a few pense in taxes. So its ok?
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> Yea... except they arent net tax contributors. They almost certainly are. Even if you assume they didn't earn any UK income, they were still paying VAT.
I'm not sure that's quite the argument you think it is? The fact is that losing a thousand well-off selfish people is not really going to put a dent in the UK's financial well-being at all is it? This is not a question of 'for the better good' at all. There are hundreds of thousands of very rich people who choose to stay and contribute to the society in which they live. Which is admirable.
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I understand completely what you're saying, but I've got a feeling this new regulation is aimed at those who don't earn any money in this country and therefore don't pay any tax in this country - even though they're living here taking advantage of the benefits and infrastructure etc. I do agree that maybe there is a more nuanced approach to this which would encourage investment into UK businesses, but nobody ever sai…
It exactly how you say, with a lot of people not exactly working in UK leaving, people who made money abroad. I know plenty who do. I can see your point here. The problem here is the way they are implementing it, right now you would still pay taxes on brining money to UK, also all of those people who happily pay certain amounts or smaller percentages on % of foreign income to live in the UK. However 45% of income mad…
Maybe it's fine that people go to UAE Italy and Switzerland, because it's difficult to ascribe any solution when the participants are so secretive in their financial movements.
It's kind of interesting that people are becoming exercised by this tax, because it's clear that they don't really value staying in the UK as much as saving some money. I find that a really interesting observation.
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I'm not sure that's quite the argument you think it is? The fact is that losing a thousand well-off selfish people is not really going to put a dent in the UK's financial well-being at all is it? This is not a question of 'for the better good' at all. There are hundreds of thousands of very rich people who choose to stay and contribute to the society in which they live. Which is admirable.
A policy that results in a shrinking of the tax base is not admirable.