Tax havens for the super-rich to consider - Times Online .
The above article is one of many in the press highlighting the potential increase in tax haven business now 1% of the UK population (or less) will have a small part of their income taxed at 50%.
It's curious: none seem to note the fact that UK resident and domiciled individuals are taxable on their world wide income and setting up offshore trusts and companeis to hide invetsment income is exceptionally hard to do fuch a person, legally.
Do they realise that many of those who use tax havens to get round their obligations are evading tax?
And right now there's an amnesty and crackdown recommencing on those who have done just that?
I'm really not sure that those writing this stuff know what they're talking about.
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Richard, I think they were suggesting that such people should actually move to those places i.e. cease to be UK resident. Wouldn’t you rather live in Mauritius?
No way!
And if some are saying that – but no means all are – and what do these people do when they get there?
Candidly – those with investment income and a desire to pay no tax have probably gone already
Tax is only a small part in determining that choice
Richard
After the effects of global warming have submerged half of Mauritius, will there be enough room for all those millionaires?
“Tax is only a small part in determining that choice”
Not a “small part” when you’re looking at 50% on a income of say £5m. These people are motivated by money, above all else.
There are people living here in Jersey paying peanuts in tax on earnings at that level. Senator Syvret claims to know one wealthy resident who pays no income tax at all. It’s wrong, but that’s the way it is.
Dan
Simply untrue
I have known and worked with a great many entrepreneurs – the real thing is not interested in money
It’s the barrow boys who get to Jersey. They’re not entrepreneurs, they’re dealers. Not the same thing at all
One makes wealth. The other trades it. Don’t confuse the two. The value is in the first, not the second. The second make the noise. That’s because they’re traders. But we can safely ignore them.
Richard
Yes, there are a good few of the barrow boy types here. Tony Buckingham being a good example, literally a mercenary!
But, there are also talented people who have lived here for a long time, for example, Ron Hickman the auto designer and inventor, and Jack Higgins the best selling author.