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50% rate will make London the tax capital of the world
Topic Started: Mar 9 2010, 11:24 PM (153 Views)
LTC8K6
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Assistant to The Devil Himself
Good grief!

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London will become the most highly taxed financial centre in the world when the new 50 per cent income tax rate for those earning £150,000 or more comes into force next month. Taxes will be higher than for financial workers living in the other key centres of New York, Paris, Frankfurt, Geneva, Zurich, Dubai and Hong Kong, KPMG calculated.



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The findings will raise fears that Labour's levies are driving businesses and bankers overseas and threatening Britain's competitiveness.


Ya' think????

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Labour's windfall tax on city bonuses has also led to anger in the City. That imposes a 50 per cent one-off charge on the banks themselves for any bonus that they pay out in excess of £25,000.

However the banks have not changed their behaviour. They are still handing out multi-million pound packages, but are forcing shareholders to pay for the levy, rather than risk annoying their top traders by taking it out of the bonus pool.


http://www.dailymail.co.uk/news/article-1256439/London-highly-taxed-finance-hub-world.html
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kbp

I'd pointed that out in a post in the California thread. Makes one wonder if the world is bankrupt.
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LTC8K6
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Assistant to The Devil Himself
Yeah, I knew I had heard it before. Apparently it's now about to actually kick in.

I can't imagine working 5 days and only getting paid for 2.5, although I already don't like the taxes I pay now...
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