UK Tax and the Super Rich

Hmm … this sort of thing eally pisses me off frankly. It seems that the UK is a tax haven of sorts for the super rich among us. Most contries where you live all your income is taxed at the rate of your designated country of residence whereas the UK only tax people at the UK rate for earnings actually made in the UK. In order to qualify for this non-residency tax loop hole you need little more than one grandparent living abroad.

Apparently the treasury has completed a study on the implications for UK tax in this and a small accountancy magazine managed to squeeze a figure of £1,000,000,000 a year in lost tax whereas most people that have been looking into this has put the figure higher than that.

Again we see the super rich being treated favourably over the man on the street …

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