Bye!! Can’t take his properties so they’ll still be taxed here
Exactly why we should tax assets and cash generation if you want to leave you can’t take the tax with you unless you sell of any income generation In the or because of the UK.
This is like losing 10,000 taxpayers on £35k
Brutal when you consider many people pay no tax at all.
Edit: it maybe as high as 73,600 workers as others have pointed out.
Imagine having £3bn in the bank and being annoyed at your tax bill
Need an exit tax now or just do what many other countries do and tax non-resident citizens anyway.
As a % of income how much did he pay?
I’ll put a decent bet on it being less of a % than my local postman!
He has a 200 room mansion in wiltshire. And is a tory donator.
Hes just a wealth hoarder.
330m is nothing to him. People really don’t understand how much a billion is. There’s only so much your life can change with each million you own after a certain point.
The rest of us should work till we drop and live in abject poverty just to please the hedge fund billionaires
We should legalise cannabis and tax the fuck out if it.
A man who has paid more tax to this country than people will earn in a lifetime is moving and we have bottom feeders saying good riddance.
*“Greece offers a 15-year high-net worth investor regime, which requires individuals to invest at least €500,000 ($430,000) in real estate, businesses or shares based in Greece within three years of applying for the tax status. In exchange, they can pay a flat tax of €100,000 a year on their income earned abroad.”*
So in 15 years he will leave Greece?
We can’t compete with Greece. They are offering rich people a flat tax bill of 100 000e. In the hope they invest into Greece. The UK can’t do that. There would be riots.
Has anybody actually asked him why he is leaving?
All these articles about it speculating but I don’t see anywhere where somebody has asked why he is moving
For all we know he wants to move back home to be with his elderly mother and no amount of tax would have made a difference.
Honestly, it’s crazy how emotional some people are getting in these comments and taking this so personally.
The guy is an extremely successful financier. He apparently paid £330m in UK tax last year, so it’s hardly as though he hasn’t contributed. If you’re paying that kind of money in tax, it’s understandable that you’re going to look at the alternatives and think about whether you want to keep doing it. Greece has offered him a particularly attractive flat-rate tax regime, and he’s Greek by heritage, so in a sense he’s essentially moving back home. From a purely financial perspective, it’s an entirely understandable decision.
Is it a blow to the UK taxpayer? Of course it is. Losing someone who contributes hundreds of millions in tax is obviously not ideal. But is the UK realistically going to be able to compete with a deal like that? Also no.
People can dislike the decision, but there’s no need to take it personally. He’s made a financial decision that makes sense for him. That’s basically what successful financiers do.
The level of financial illiteracy in this thread is staggering.
Why? *nothing* has changed tax wise yet. If he’s leaving because of speculation he was going to leave anyway. Nothing the current government will have *done* will have precipitated this move. He’s moving because he wants to and he can. That’s it. That’s the story.
One example is of no statistical significance. The overall evidence indicates that most of the wealthy do not leave to UK for tax avoidance reasons. For example, we were told that changing the non-dom tax rules would result in a mass exodus. From the same article “The latest provisional figures show a modest 0.5% decline in the number of non-domiciled residents in the tax year ended in April last year”. A change of 0.5% is not evidence of a significant trend.
Let’s put this into context. As a thought experiment, imagine you took away half his £2.3 billion net worth(again thought experiment, not actual policy)
What can’t he do, that he could before? Nothing. His life won’t change at all because having a billion pounds is obscene.
Why does society bend over backwards to people who have it all while working class people have to just suck it up.
It’s the dragons sickness. Greed of money has corrupted people.
Uh huh, and how much of that £330m is on UK assets that he’ll have to pay tax on regardless of where in the world he lives? This is most likely just a performance, to scare the UK population into voting against their own interests in favour of his interests.
They don’t say what earnings he was taxed 330m on. Anyone want to venture a guess he’s paying a lower tax rate than any of us? Good riddance. Let’s hope he stays out of UK politics, unlike Christopher Harborne. Somehow with funding a school of government at Cambridge, I’m pretty sure he’s going to continue to influence the politics in this country with the likes of Peter Thiel.
one less parasite to compete for houses with young families, this is good news
So, what happens if all the highest paying tax payers leave?
Imagine having to pay your fair share. Can’t have that now, can we?
Good luck finding a saveloy in Greece. He’ll come crawling back
His earnings reported via Rokos Capital was £477m
Assuming he has investments and income over his paye earnings that would take his paye tax contributions at about £210m and £120m from other investments.
Yes its an extraordinary amount of money.
Yes its more than one family can realistically spend.
The fact is that it is being lost.
It will not be made back up unless they put tax up on everyone else.
They wont put a blanket tax across the board so it will be the squeezed middle again.
They are the ones that have the kids that see the stress who have then chosen to stay out of the race because they dont see the benefits of the work so why bother.
We have to look at ot as a whole
Government waste and spending is a massive issue in this country but its a lot easier to blame the billionaire
> Greece offers a 15-year high-net-worth investor regime, which requires individuals to invest at least €500,000 ($430,000) in real estate, businesses or shares based in Greece within three years of applying for the tax status. In exchange, they can pay a flat tax of €100,000 a year on their income earned abroad.
We were never going to retain him.
I think Italy has a similar deal, same with Portugal. Probably others. They reason those individuals would then spend a lot in the local economy, which they will…
It might be time to find some agreement with other countries in the West to avoid this kind of thing.
A lot of very similar comments all repeating the phrase “it’s a blow”. Note to whoever wrote the bot code, you need to mix it up a bit to make it look human.
Greens will say good riddance while continuing to claim there pip and sitting in there room all day bleeding the system. while hard working people will pick up the bill and try to fill the hole people like this are leaving.
29 comments
Bye!! Can’t take his properties so they’ll still be taxed here
Exactly why we should tax assets and cash generation if you want to leave you can’t take the tax with you unless you sell of any income generation In the or because of the UK.
This is like losing 10,000 taxpayers on £35k
Brutal when you consider many people pay no tax at all.
Edit: it maybe as high as 73,600 workers as others have pointed out.
Imagine having £3bn in the bank and being annoyed at your tax bill
Need an exit tax now or just do what many other countries do and tax non-resident citizens anyway.
As a % of income how much did he pay?
I’ll put a decent bet on it being less of a % than my local postman!
He has a 200 room mansion in wiltshire. And is a tory donator.
Hes just a wealth hoarder.
330m is nothing to him. People really don’t understand how much a billion is. There’s only so much your life can change with each million you own after a certain point.
The rest of us should work till we drop and live in abject poverty just to please the hedge fund billionaires
We should legalise cannabis and tax the fuck out if it.
A man who has paid more tax to this country than people will earn in a lifetime is moving and we have bottom feeders saying good riddance.
*“Greece offers a 15-year high-net worth investor regime, which requires individuals to invest at least €500,000 ($430,000) in real estate, businesses or shares based in Greece within three years of applying for the tax status. In exchange, they can pay a flat tax of €100,000 a year on their income earned abroad.”*
So in 15 years he will leave Greece?
We can’t compete with Greece. They are offering rich people a flat tax bill of 100 000e. In the hope they invest into Greece. The UK can’t do that. There would be riots.
Has anybody actually asked him why he is leaving?
All these articles about it speculating but I don’t see anywhere where somebody has asked why he is moving
For all we know he wants to move back home to be with his elderly mother and no amount of tax would have made a difference.
Honestly, it’s crazy how emotional some people are getting in these comments and taking this so personally.
The guy is an extremely successful financier. He apparently paid £330m in UK tax last year, so it’s hardly as though he hasn’t contributed. If you’re paying that kind of money in tax, it’s understandable that you’re going to look at the alternatives and think about whether you want to keep doing it. Greece has offered him a particularly attractive flat-rate tax regime, and he’s Greek by heritage, so in a sense he’s essentially moving back home. From a purely financial perspective, it’s an entirely understandable decision.
Is it a blow to the UK taxpayer? Of course it is. Losing someone who contributes hundreds of millions in tax is obviously not ideal. But is the UK realistically going to be able to compete with a deal like that? Also no.
People can dislike the decision, but there’s no need to take it personally. He’s made a financial decision that makes sense for him. That’s basically what successful financiers do.
The level of financial illiteracy in this thread is staggering.
Why? *nothing* has changed tax wise yet. If he’s leaving because of speculation he was going to leave anyway. Nothing the current government will have *done* will have precipitated this move. He’s moving because he wants to and he can. That’s it. That’s the story.
One example is of no statistical significance. The overall evidence indicates that most of the wealthy do not leave to UK for tax avoidance reasons. For example, we were told that changing the non-dom tax rules would result in a mass exodus. From the same article “The latest provisional figures show a modest 0.5% decline in the number of non-domiciled residents in the tax year ended in April last year”. A change of 0.5% is not evidence of a significant trend.
Let’s put this into context. As a thought experiment, imagine you took away half his £2.3 billion net worth(again thought experiment, not actual policy)
What can’t he do, that he could before? Nothing. His life won’t change at all because having a billion pounds is obscene.
Why does society bend over backwards to people who have it all while working class people have to just suck it up.
It’s the dragons sickness. Greed of money has corrupted people.
Uh huh, and how much of that £330m is on UK assets that he’ll have to pay tax on regardless of where in the world he lives? This is most likely just a performance, to scare the UK population into voting against their own interests in favour of his interests.
They don’t say what earnings he was taxed 330m on. Anyone want to venture a guess he’s paying a lower tax rate than any of us? Good riddance. Let’s hope he stays out of UK politics, unlike Christopher Harborne. Somehow with funding a school of government at Cambridge, I’m pretty sure he’s going to continue to influence the politics in this country with the likes of Peter Thiel.
one less parasite to compete for houses with young families, this is good news
So, what happens if all the highest paying tax payers leave?
Imagine having to pay your fair share. Can’t have that now, can we?
Good luck finding a saveloy in Greece. He’ll come crawling back
His earnings reported via Rokos Capital was £477m
Assuming he has investments and income over his paye earnings that would take his paye tax contributions at about £210m and £120m from other investments.
Yes its an extraordinary amount of money.
Yes its more than one family can realistically spend.
The fact is that it is being lost.
It will not be made back up unless they put tax up on everyone else.
They wont put a blanket tax across the board so it will be the squeezed middle again.
They are the ones that have the kids that see the stress who have then chosen to stay out of the race because they dont see the benefits of the work so why bother.
We have to look at ot as a whole
Government waste and spending is a massive issue in this country but its a lot easier to blame the billionaire
> Greece offers a 15-year high-net-worth investor regime, which requires individuals to invest at least €500,000 ($430,000) in real estate, businesses or shares based in Greece within three years of applying for the tax status. In exchange, they can pay a flat tax of €100,000 a year on their income earned abroad.
We were never going to retain him.
I think Italy has a similar deal, same with Portugal. Probably others. They reason those individuals would then spend a lot in the local economy, which they will…
It might be time to find some agreement with other countries in the West to avoid this kind of thing.
A lot of very similar comments all repeating the phrase “it’s a blow”. Note to whoever wrote the bot code, you need to mix it up a bit to make it look human.
Greens will say good riddance while continuing to claim there pip and sitting in there room all day bleeding the system. while hard working people will pick up the bill and try to fill the hole people like this are leaving.