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Post by sheepy on Jun 19, 2024 6:00:10 GMT
Perhaps the billionaires are hoping Labour can take us back into the EU. By far the largest majority leaving are not heading for the EU. So that was another politicians red herring. |
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Post by Handyman on Jun 19, 2024 6:16:24 GMT
One very easy way would be to follow the American example But they are US citizens, most non-doms are foreigners. If you try to start taxing them on their worldwide income their home nations would have something to say about it. Exactly their money income is generated in other countries and are taxed by the country they operate in IMHO the UK HMRC have no jurisdiction to tax them as well, if they bring their money into the UK then HMRC can tax them |
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Post by Pacifico on Jun 19, 2024 6:36:28 GMT
But they are US citizens, most non-doms are foreigners. If you try to start taxing them on their worldwide income their home nations would have something to say about it. I should have made my point a little clearer
A US Passport Holder pays tax to the United States IRS no matter where they are in the world and no matter how they make that income.
Some countries (like the UK) are bloody stupid enough to have treaties that allow citizens to avoid paying two sets of tax. I admit using this system myself when working in France, and the French were bloody annoyed about it, but as a UK citizen working freelance in France just after John Major dragged us into the Masstricht treaty with his bloody lies about subsidiarity i was given the option of paying tax to the French, or paying tax to the UK, and was told i was able to use the fact i had paid one as a means to claim relief from paying the other.
Naturally as a Brit, one hates the French as the very devil, and so i opted to pay MORE tax to the British Inland Revenue than i would have had to pay to the French, so as to tell them their father stank of elderberries.
I was suggesting that ONE way to ensure British Passport Holders failed to evade the Britsh Exchequer would be to implement a system similar to that used by the USA, and demand tax from passport holders on their worldwide income regardless of the country they were currently sitting in.
This might well piss off the country the taxed are living in, who may have to give up their claim on the tax we collect, but frankly, if this causes that country to put two fingers up to double taxation relief and cause wealthy abscoders to be taxed twice, well I for one will not object.
Dual taxation agreements are fairly common - I write off my US tax against my UK tax bill, if I couldn't do that I wouldn't be here and the UK would get no tax whatsoever off me. As it is with the proposed increases in taxation I am currently looking at my options and I could well be another taxpayer that the UK loses next year. |
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Post by johnofgwent on Jun 19, 2024 6:59:32 GMT
I should have made my point a little clearer
A US Passport Holder pays tax to the United States IRS no matter where they are in the world and no matter how they make that income.
Some countries (like the UK) are bloody stupid enough to have treaties that allow citizens to avoid paying two sets of tax. I admit using this system myself when working in France, and the French were bloody annoyed about it, but as a UK citizen working freelance in France just after John Major dragged us into the Masstricht treaty with his bloody lies about subsidiarity i was given the option of paying tax to the French, or paying tax to the UK, and was told i was able to use the fact i had paid one as a means to claim relief from paying the other.
Naturally as a Brit, one hates the French as the very devil, and so i opted to pay MORE tax to the British Inland Revenue than i would have had to pay to the French, so as to tell them their father stank of elderberries.
I was suggesting that ONE way to ensure British Passport Holders failed to evade the Britsh Exchequer would be to implement a system similar to that used by the USA, and demand tax from passport holders on their worldwide income regardless of the country they were currently sitting in.
This might well piss off the country the taxed are living in, who may have to give up their claim on the tax we collect, but frankly, if this causes that country to put two fingers up to double taxation relief and cause wealthy abscoders to be taxed twice, well I for one will not object.
Dual taxation agreements are fairly common - I write off my US tax against my UK tax bill, if I couldn't do that I wouldn't be here and the UK would get no tax whatsoever off me. As it is with the proposed increases in taxation I am currently looking at my options and I could well be another taxpayer that the UK loses next year. I also suspect that were the UK to do something about the amount of tax (I wonder how much it is ??) it is unable to tax through US citizens being able to cite Uncle Sam's demands as their way to evade the not so long arm of the UK Exchequer, by for example telling the POTUS he can shove his special arrangement which is after all just so much utter bullshit, and that we are as of 6pm budget day suspending our dual income tax relief, and re-imposing exchange controls in the style of 1980 Italy, how long you would take to pay whatever it took to get the hell out. I wouldn't blame you and I repeat what I said in my last post, as a UK resident, UK tax paying freelancer temporarily in France I myself took advantage of these arrangements, choosing to tell the French to fuck off and paying tax to Britain because the French deserve to be shunned in that way, yet choosing for my time in Belgium and Italy to pay the Belgians and the Italians because they were nicer to me But and here is the thing many of Nigel Farage's natural voters have no means to understand, unlike the US situation, for every frenchman who chooses to pay the french his tax on work he did in the UK for a company registered at companies house there is another who chooses to pay the english, and that applies in reverse. Fundamental to my point here is the fact I had a choice of who to pay. It was decades ago and I have no idea if the process of Eu-moronification embedded in the Lisbon treaty changed that The situation with the US is rather different. They demand first dibs in a one way street I do feel an FOI request coming on though. |
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Post by patman post on Jun 19, 2024 19:26:00 GMT
We have regular income from France and have opted to pay tax in the UK because it is less than the tax that would be paid if it were to be taxed at source in France. We had to show to the French that we paid tax in the UK, and the French probably checked with HMRC that our situation was as we said…
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Post by Handyman on Jun 20, 2024 6:42:23 GMT
The French in 2000 introduced a wealth tax it is estimated that 42,000 Millionaires left France taking their money with them.
The UK has never had a wealth tax, but the closest it came to introducing one was in the mid-1970s against a backdrop of high inflation, rising unemployment and frequent largescale strikes. Denis Healey, then Labour chancellor, wrote in his memoirs: “We had committed ourselves to a wealth tax; but in five years I found it impossible to draft one which would yield enough revenue to be worth the administrative cost and political hassle.”
It appears that Labour do not learn from history
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Post by sheepy on Jun 20, 2024 7:26:50 GMT
Well on the amusing side, the very system of globalisation they have championed, brings about their downfall and leaves them hungry and homeless, how would that be for being ironic?
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Post by bancroft on Jun 20, 2024 10:45:36 GMT
We have regular income from France and have opted to pay tax in the UK because it is less than the tax that would be paid if it were to be taxed at source in France. We had to show to the French that we paid tax in the UK, and the French probably checked with HMRC that our situation was as we said… Probably not happening enough for them to take action........ |
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Post by zanygame on Jun 26, 2024 7:32:02 GMT
The number of millionaires leaving Britain is expected to double this year amid Labour’s tax raid on non-doms and private schools. A record 9,500 people with assets, excluding property, of $1m (£790,000) or more, are forecast to leave the country in 2024, according to expat wealth manager Henley & Partners. Last year 4,200 millionaires left. It comes as Labour revealed plans to strengthen the Conservatives’ non-dom reforms in its manifesto last week. Both parties have said they will make the non-doms regime less generous but Labour went further. The party pledged to raise £450m by closing a loophole that allows non-doms to avoid paying inheritance tax on assets held in trusts. Advisers to non-doms have warned that many wealthy foreigners will exit the country if they are forced to pay the 40pc charge. Britain’s inheritance tax rate is one of the highest in the OECD group of leading economies. Henley & Partners’ annual private wealth migration report is based on data on more than 150,000 high-net-worth individuals. The firm found that the number of millionaires in the UK has dropped by 8pc over the past decade while in other countries the figure is rising. For example, France has seen its millionaire population grow by 14pc and Australia’s has soared by 35pc. Expect the economy to stagnate over the second half of 2024, says NatWest's Michelle Girard This year’s report said that the UK will lose the second-most millionaires of any country, overtaken only by China, which is anticipated to lose 15,200 wealthy residents.
Hannah White, of the Institute for Government, a think tank, said economic and political turmoil in the UK had already triggered an outflow of millionaires but this was now being accelerated by hostile policy decisions ahead of the election. “For those educating their children in the UK’s well-regarded private school sector, Labour’s commitment to remove their exemption from 20pc VAT is a further unwelcome development,” she added. Around the world, 128,000 millionaires will relocate in 2024, more than in any year previously, Henley & Partners said. The firm said China would suffer the biggest outflows and that these would be “more damaging than usual” to its economy because of the recent slowdown. These being the millionaires who are only here because they are not asked to contribute properly. The ones we want to keep are the investors in British industry and commerce, they are leaving because Brexit strangled the markets and its easier to invest and trade elsewhere. Tell me, which farm would you invest in, the ones who supplies Tesco, Asda and Sainsbury's. Or the one who shut the door on them all unless they agreed to his conditions? But wait. Now we're free of the EU won't all those millionaires leaving China want to come here? |
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Post by Pacifico on Jun 26, 2024 7:34:18 GMT
Brexit...  |
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Post by zanygame on Jun 26, 2024 7:35:09 GMT
Labour wrecking the economy is a given. It's just what Labour does. IMO for a long time if the people with money think Labour may or will win the GE they get their money out of the UK as fast as possible, what I cannot understand id Labour claim they will tax Non Doms who have money outside of the UK income overseas, how can they possibly do that ? Presumably the same way they tax Non Non Doms. If you live in this country you are taxed on your income. |
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Post by zanygame on Jun 26, 2024 7:38:21 GMT
Brexit...  |
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Post by bancroft on Jun 26, 2024 10:16:08 GMT
Labour's taxes.......
Asian 'slaves' to sue thier Billionaire bosess who taken their passports.
Take your pick.
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Post by Dubdrifter on Jun 27, 2024 6:57:34 GMT
It would be great if we all had the money to up sticks when the going got tough … and jumped to a tax-free haven the World’s problems hadn’t reached yet … that a few of the World’s super duper rich billionaires with a God Complex created … and exacerbated since 9/11.
America, Europe and the UK were pretty stable and thriving before certain Left Wing Rothschildean anarchists decided to poo in our backyard and destroy us with …
…. broken borders
…. wars
…. famine
…. mass migration
…. bad MSM
…. corruption/greed overload
…. sanctions
…. plandemics
Now they are like headless chickens who don’t know where to run to now that Pentagon NATO/Biden nutters are engineering nuclear war … and nobody wants to talk about this elephant in the room.
Of course millionaires will flee countries right in the engineered epicentre of this conflict … and build a DUMB on some tropic island as far out of the jet stream that’s going to create a nuclear winter.
Everyone’s running scared of this Deep State-generated insanity ….. which is why everyone needs to VOTE REFORM … and not Labour or Tory … we need all these politicians OUT of our Parliament ‘en Masse’ to restore our Country … and turn back the clock on all the above horror that a few nasty billionaires inflicted on the rest of us.
(A stupid eastern expansionist war with Russia and China manufactured by the worst Dr Strangeloves/Israelis you can imagine.
… Their presence is over-rated … get the wrong bullying ones … like the Soros Posse … and they can flush your once proud Country completely down the toilet (look at America right now under that dumb puppet Biden … and Israel, Europe etc )… that was the MSM choice don’t forget … the Sainsbury/Lord Dacre choice …. Despite their ramblings and bad advice …. we are not in bad shape considering what these anarchists put us through … and how badly they misled us.
…. we just need to fast track remove some bad apples.
We just need to stay unified and strong … and kick out of POWER the Sturgeon-types and the BBC/Media anti-white racists bringing their toxins over from America … these elements within our Establishments doing the damage.
REFORM is the VOTE that keeps us independent and free to rebuild and REFORM.
…. and keeps UK loyal Big Business and UK LOYAL Billionaires/Millionaires on board …
MAKE BRITAIN GREAT AGAIN …. VOTE REFORM. ….. and like Brexit … send these evil liars the biggest FU in the history of UK elections. … for failing to deliver … on so many counts.
…. we don’t want anyone anywhere near our Parliament …who even smells remotely like they are going to deliver us up the ‘same old, same old’ crap they’ve served us up these last 40 years.
We want indigenous REPRESENTATION … and immigrant cultures and their millionaires want the stability that comes with a stable, happy indigenous tolerant population.
…. free of Guardian anarchists spouting sh*te agendas … super dumb gender confusion … and fake Green climate manipulation programmes that do more harm than good.
We need a fresh broom to completely reconfigure our Establishment … remove the hidden quangos … that instigate “no change” and engineer “NO CHANGE” … when we definitely desperately want positive change … for the MAJORITY … not the Muslim/Zionist minority.
Don’t mess up on the 4th July … VOTE REFORM …. and kick these selfish LIARS where it HURTS!
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Post by Vinny on Jun 27, 2024 9:05:19 GMT
The number of millionaires leaving Britain is expected to double this year amid Labour’s tax raid on non-doms and private schools. A record 9,500 people with assets, excluding property, of $1m (£790,000) or more, are forecast to leave the country in 2024, according to expat wealth manager Henley & Partners. Last year 4,200 millionaires left. It comes as Labour revealed plans to strengthen the Conservatives’ non-dom reforms in its manifesto last week. Both parties have said they will make the non-doms regime less generous but Labour went further. The party pledged to raise £450m by closing a loophole that allows non-doms to avoid paying inheritance tax on assets held in trusts. Advisers to non-doms have warned that many wealthy foreigners will exit the country if they are forced to pay the 40pc charge. Britain’s inheritance tax rate is one of the highest in the OECD group of leading economies. Henley & Partners’ annual private wealth migration report is based on data on more than 150,000 high-net-worth individuals. The firm found that the number of millionaires in the UK has dropped by 8pc over the past decade while in other countries the figure is rising. For example, France has seen its millionaire population grow by 14pc and Australia’s has soared by 35pc. Expect the economy to stagnate over the second half of 2024, says NatWest's Michelle Girard This year’s report said that the UK will lose the second-most millionaires of any country, overtaken only by China, which is anticipated to lose 15,200 wealthy residents.
Hannah White, of the Institute for Government, a think tank, said economic and political turmoil in the UK had already triggered an outflow of millionaires but this was now being accelerated by hostile policy decisions ahead of the election. “For those educating their children in the UK’s well-regarded private school sector, Labour’s commitment to remove their exemption from 20pc VAT is a further unwelcome development,” she added. Around the world, 128,000 millionaires will relocate in 2024, more than in any year previously, Henley & Partners said. The firm said China would suffer the biggest outflows and that these would be “more damaging than usual” to its economy because of the recent slowdown. These being the millionaires who are only here because they are not asked to contribute properly. The ones we want to keep are the investors in British industry and commerce, they are leaving because Brexit strangled the markets and its easier to invest and trade elsewhere. Tell me, which farm would you invest in, the ones who supplies Tesco, Asda and Sainsbury's. Or the one who shut the door on them all unless they agreed to his conditions? But wait. Now we're free of the EU won't all those millionaires leaving China want to come here? Leaving the EU simply gave us back our sovereignty. How the government uses sovereignty is another matter. How quickly you have forgotten how shit things were when we were in, all the poverty it caused, and the deaths. |
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