Rich tax-dodgers were bluffing

JohnD said:
The very rich don't believe they should pay taxes.

They are so offended by the idea that they "threaten" to run away and live somewhere else.

"Josephine Cumbo in London
Published YESTERDAY

The number of “non-doms” dropped by less than 1 per cent immediately after UK ministers confirmed the end of the favourable tax status, further undermining claims that tougher rules would trigger an exodus of wealthy individuals.

About 73,400 individuals claimed non-domiciled taxpayer status in 2024-25, a fall of 0.5 per cent or 400 compared with the previous year, according to figures published by HM Revenue & Customs.

The decrease reflected roughly 8,600 “newly arrived” non-domiciled taxpayers in the period, while 9,000 people exited the category.In the 2023-24 tax year, about 10,000 people were classified as “newly arrived” non-domiciled taxpayers, while 11,200 exited the category.

Thursday’s data follows surveys, largely based on anecdotal evidence, suggesting that former chancellor Rachel Reeves’ tax policies would prompt huge numbers of wealthy individuals to flee Britain."

FT.com
Click to expand...
Nice to read up to date material.
 
motorbiking said:
facts boyo
www.adamsmith.org

Number of UK Millionaires at Lowest Level Since Global Financial Crisis — Adam Smith Institute

There are fewer millionaires in Britain than at any time since the Global Financial Crisis, according to new inflation-adjusted estimates from the Adam Smith Institute. The latest records from our Millionaire Tracker show that there were 442,000 sterling millionaires in Britain, down by 7% since
www.adamsmith.org www.adamsmith.org
Click to expand...
In the year following Labour's GE victory we (the UK) had the second highest number of millionaires leaving a country in the world.
Only China lost more.
 
Lirefighter said:
In the year following Labour's GE victory we (the UK) had the second highest number of millionaires leaving a country in the world.
Only China lost more.
Click to expand...
the lefties don't understand where the taxes that fund their benefits come from.
 
Murdochcat said:
So are you prepared to pay a lot more tax if the millionaires and billionaires leave the UK then.
Click to expand...
I don’t think it works that way, the billionaires aren’t leaving, at least not in thd numbers predicted. UK city can spend their money and generate tax in other businesses .
 
noseall said:
Turns out it was just 400 greedy tax dodgers, the rest were just on holiday.
Click to expand...
noseall said:
Showing the latest truthful numbers is hardly an obsession.
400 lol.
Click to expand...
  • There are fewer millionaires in Britain than at any time since the Global Financial Crisis, according to new inflation-adjusted estimates from the Adam Smith Institute.
  • The latest records from our Millionaire Tracker show that there were 442,000 sterling millionaires in Britain, down by 7% since 2024.
  • This is driven by falling real asset prices, a low household savings rate and the emigration of high net-worth individuals (HNWIs).
  • Millionaires are leaving the UK for a number of reasons, including high levels of current taxation, threats of further increases (including a wealth tax), the abolition of the non-dom regime, and a culture which is hostile to wealth-creators.
  • Many millionaires are wealth creators who set up businesses, employ people and fund Britain’s public services. In fact, the top 1% of earners pay 29.1% of income tax.

The lefties don't care about the loss of taxes.
 
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