{"id":5813,"date":"2010-01-14T12:31:20","date_gmt":"2010-01-14T10:31:20","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=5813"},"modified":"2010-01-14T12:31:20","modified_gmt":"2010-01-14T10:31:20","slug":"bankers-%e2%80%98let-down%e2%80%99-by-uk-tax","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2010\/01\/14\/bankers-%e2%80%98let-down%e2%80%99-by-uk-tax\/","title":{"rendered":"Bankers \u00e2\u20ac\u0161\u00c3\u201e\u00c3\u00b2Let Down’ by UK tax"},"content":{"rendered":"

Bankers \u00e2\u20ac\u0161\u00c3\u201e\u00c3\u00b2Let Down’ as Tax Makes London Most Expensive Update1 - Bloomberg.com<\/a>.<\/p>\n

Bloomberg reports:<\/p>\n

The U.K. government’s decision to raise the top rate of income tax will leave residents earning more than 1 million pounds ($1.6 million) a year worse off than they would be in any of the world’s other major financial centers.<\/p>\n

“People feel let down,” Nick Bacon<\/a>, a London-based financial services tax partner at accounting firm KPMG<\/a>, said in a telephone interview. “They thought that the U.K. could always be relied on as being tax-friendly.”<\/p><\/blockquote>\n

Oh dear. Poor darlings. As TUC general secretary Brendan Barber said:<\/p>\n

I'm sure the seven and half million other Londoners will be over-flowing with sympathy today. Perhaps KPMG would like to set up millionaires' aid so that we can send donations.<\/p>\n

The truth is that the recession that cost many Londoners their job was caused in the finance sector. It is only right that London's super-rich now make a fair contribution to putting right the damage.<\/p><\/blockquote>\n

Precisely.<\/div>\n
<\/div>\n
And isn't this in fact simple admission by KPMG that they have failed to keep London as the tax avoidance capital of the world?<\/div>\n
<\/div>\n
Disclosure: I advise the TUC, but not on this.<\/div>\n","protected":false},"excerpt":{"rendered":"

Bankers \u00e2\u20ac\u0161\u00c3\u201e\u00c3\u00b2Let Down’ as Tax Makes London Most Expensive Update1 – Bloomberg.com. Bloomberg reports: The U.K. government’s decision to raise the top rate of income
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-5813","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/5813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=5813"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/5813\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=5813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=5813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=5813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}