Monaco: a favoured destination of the super rich
HMRC turns residency screw
30 Nov 2009, David Jetuah, AccountancyAge
http://www.accountancyage.com/aa/news/1765688/hmrc-residency-screw
Rich people who have left Britain shores to set up in tax havens will find themselves under greater scrutiny from HMRevenue &Customs.
They could be liable to pay tax into the UK's coffers just for keeping a car or a golf club membership in the UK, the Sunday Times reported.
HMRC's new high-net worth unit, which monitors the tax contributions of the country's wealthiest 5,000 people, will examine their non-residency claims.
Ringo Starr, Formula One drivers Jenson Button and Lewis Hamilton, and Sir Roger Moore, are all tax exiles.
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Visitor comments
perhaps
Perhaps they left because England is finished and not just for tax reasons.
Who would not leave if they could? The tax reasons are just an incentive provided by the government to get rid of the rich.
Posted by: Spike , 30 Nov 2009 | 00:00