Home / Taxes / Rich Brits Fled Taxes in 2010. Where Did They Go?
Print Friendly and PDF

Rich Brits Fled Taxes in 2010. Where Did They Go?

Written by Gary North on November 29, 2012

In 2009, there were 16,000 people in the UK who earned over $1.6 million a year. Then Gordon Brown hiked the tax rate to 50%. In one year, 10,000 of them fled the country.

This shows that taxes matter. Unlike Americans, the rest of the world taxes only people who live inside its borders. If you leave, you escape the taxes. Amazing concept!

Now that taxes are down to 45%, 4,000 of the expatriates have returned. The others like the new arrangement.

Question: Where did they flee to? We don’t know. What tax havens took them in? Bermuda? The Bahamas? The Cayman Islands? The Isle of Man? Jersey?

Where does a rich man go? He lives in urban Britain. How can he preserve his lifestyle in a sunny island nation run by . . . how should I say this . . . natives? The mantra of the Caribbean is this: “No problem.” There are always problems. They do not go away.

Americans with money stay put. They grit their teeth. Not the Brits.

Continue Reading on www.telegraph.co.uk

Print Friendly and PDF

Posting Policy:
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.

19 thoughts on “Rich Brits Fled Taxes in 2010. Where Did They Go?

  1. Henry Bright says:

    I wish I had enough money to have to grit my teeth.

  2. i understand that! If I actually had money like that I'd have a heart attack from sheer shock!

  3. I'd just like to have enough money to retire. I could retire now, but I'm not ready to lower my income to do. After working and saving for 45 years I get nothing for interest! Plus if my husband and I retire we lose our employer health insurance and would have today $848.00 a month. Yep, they can't refuse you health insurance , but they can charge you so much that you can't afford it.

  4. Amazing how the political elite that get the best of everything at our expense seem to only fix things in such a way that their friends (insurance companies) get richer and we get poorer. They always tamper with stuff as if they knew what they are doing and always lying about their participation in the failures such as Barney Frank and the housing bubble. Soon this crap will come to a head.

  5. Winghunter says:

    Kalifornia, New Jersey, Illinois and of course New York are current and vivid examples that Americans leave when taxes are raised. To pretend to argue that they don't is simply psychotic.

  6. Did I miss it? The atricle didn't say where they went Is there one, two or a hand full of places a person can go to enjoy a relatively lower cost of living, with reasonable transportation costs and access back to the US to conduct business? My wife and i are ready to go, the the Carribean, Canada, Mexico or other Central American country to live out our retirement. Now may be the time to cash out our US assets/property, and start anew. I want a stable government with few regulations and restrictions, we can be self sufficient with 10-30 acres of farm/pasture land. We'll keep looking.

  7. barb patton says:

    When? The devil not only lives next door to us but is in the white house!!! They will tax us all to death until no one is able to survive and will eventually have to resort going onto the government's leftist tit. On a $840 S.S. I pay almost $450 on various Insurances and I am told that the premiums will go up again in January. There is no way that we can win this one.. We cannot control the progress of this cancer which has spread over this country thanks to the ayatollah barack. It a nutshell he has murdered our country. GOD HELP AMERICA we live in the evil days.

  8. Try Panama.

  9. Texas Chris says:

    In the end, once the system collapses, it'll all shake out. Insurance will change, covering only major medical, and premiums will plummet. Doctor visits will be much cheaper because the doctor won't need to staff full time employees that only deal with insurance, wont have the burdensome regulations from the feds, and won't have huge malpractice coverage.

    We could have all this today if the feds got out of the way.

  10. Texas Chris says:

    The inverse: Texas.

  11. Texas Chris says:

    Panama is good. Chile is good. Beliz is good if you can live rough-ish. Even central Mexico.

  12. The welfare loafers(those who got free phones etc.) were to ones who put Obamination back in office, that along with the heads full of school mush young that voted for a communist. they are going to learn, probably very shortly, when the dic-tator takes over, the rest of us should refuse to protect them then, like Nazi Germany in the 1930's. Hiel Obama!

  13. You named the three places that I would have named.

    Actually, Chile is a top tier nation. There aren't but a handful of nations in the world, who could have saved those miners a year ago, like they did. In fact, several European nations couldn't have done as well. Panama is growing fast. The Donald just opened up a Trump Tower in Panama City, Panama. Furthermore, there are parts of Panama where you are as likely to hear English spoken as Spanish. Belize needs investors and welcomes foreigners with a big checkbook.

  14. Kirk Jenkins says:

    Some of these comments seem to be from people who don't work 80 entrepreneurial hours each week. "Who will give me money to retire…" "Who will pay for my health insurance?" (You, yes you are paying for it or at least you should be.) "If I actually had money I'd have a heart attack." Well, to get money you have to go create or work for it. Not by taking from others. That's how it's done.
    What made us the fastest wealthiest country in the shortest time? Hard work. And budgeting your money. It simple. We now have more lazy slackers then we have ever had. We are doomed…. I hope not :-). Lets get working hard America! Get up early work two jobs. Whatever it takes. I'm willing.

  15. I find it ammusing how the main stream media wets their pants when Obama blinks, or just waves his hand..
    Evidently these people who are supposed to be so smart, don't even know a thing about history, or even care..
    Just ask youself, when was the last time that a dictator used events to gather the masses to his cause, using the media, and after he cosolidated his power, took the people who helped him get there, then threw them under the bus, knowing full well that he didn't need their services anymore?
    The first cassualty of dictators, are the ones that, "make the news." After all, who likes to hear bad news after a power grab?
    I allways knew that if this nation was going to fall, it would be from within, and with the help of its own people…
    "Blessed is the nation whos GOD is the lord." old proverb: the opposite of that, is, "curssed is the nation whose god is not the LORD."
    I guess this nation is about to get what they wished and prayed for……..

  16. freddefreeloader says:

    Try Thailand – i've met a few brits and aussie here – living high on the hog will little money and with a young wife –

  17. Yeah right….be a serf. Work 2 shitty low paying jobs, claw your way into a third rate managerial job, watch ALL personal expenses go through the roof (ah, IE: utilities, gasoline, taxes, insurance. etc et al). The only way to get ahead is to call your on shots. This country, today, PENALIZES hard work. It is not the country you believe it to be…and thats the real travesty. Entrepreneurism? Doing what? Selling guava berry juice in some MLM goof scheme? Dont kid yourself it takes money to make money and none if us little guys have it. So you work two jobs and juggle that schedule in a marginal work environment. Working 2 jobs is working two part time jobs….how important are you?

  18. When you have a 2nd income, you can save money to buy solar panels and lower your utilities. You can save money to buy a more fuel-efficient car to save money on gasoline. When you have a 2nd income plus the monthly savings in gasoline and electricity, you can afford to make other improvements to save money. Why are you so reluctant to hard work for a set period of time and why would you even ask "…how important are you"? Are you seriously looking to feel important from a job?? I'm working 12 hour days, 7 days per week and I'm in a war zone. I'm here so I can get ahead enough to save money in the future and have more real choices. Sounds like you feel sorry for yourself and don't want to sacrifice today to do better in the future. I deeply resent that I am working 84 hours per week away from my family and you try to pooh-pooh everything I do just so you don't have to try working this hard and making sacrifices like I have. You're not entitled to anything I have worked for.

  19. Unless you denounce US citizenship, there's no place to run to. The US taxes Americans on their world-wide income. Only one or 2 other countries do this. That's how greedy our crooked politweasels are. Time to begin culling that herd–among others. The Brits that moved out of the UK can avoid taxes in British Overseas Territories–Americans can't avoid them period.