Hat tip to Tomas for this one.
Excerpts from UK Telegraph:
The British Virgin Islands, a popular tax haven in the Caribbean, has seen an 18 per cent rise on a year ago.
Those who are leaving what they see as the mainland’s punitive tax rates include highly paid bankers and hedge fund mangers along with entrepreneurs running luxury travel companies, healthcare, property firms and call centres.
“It’s not just the 50 per cent rate — it’s National Insurance, the treatment of pensions ... everything. It’s just a ridiculous amount of taxation.”
A new marketing brochure published by the island’s authorities promises “in Jersey, keep more of what you earn” based on corporation tax at 10 per cent and income tax at 20 per cent. There is no inheritance tax or capital gains tax and property taxes are also low.
Jersey Finance, an agency set up to attract financial talent to the island, has held a series of private dinners in London to persuade new residents to move to the island.
Geoff Cook, the agency’s chief executive, said: “The 50 per cent tax rate does seem to have been the tipping point for many people.”
The influx has also proved popular with estate agents on Jersey. James de la Cloche, director of Edge, a property consultancy, said: “We love Gordon [Brown] and Alistair [Darling] over here — we rather hope they get another term.”
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