UK imposing 50% income tax for ppl>=150k pound income

This is indeed a very bad news ..They are imposing 50%tax on ppl earning more than 150k per year from next April ...If they are taxed (big corporate guys, CEOs) etc..why will they not shift the offices to other countries ??

Is there any point coming to UK on tier1 (studying hard , getting masters degree, flying and then srching job) if this rule is imposed from Apr 2010 ?

Your views appreciated


http://www.breitbart.com/article.php?id ... _article=1

Govt hikes top income tax rate to 50%
Apr 22 09:50 AM US/Eastern
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Britain will increase its top rate of income tax to a higher than expected ...



British Economy Will Shrink This Year at Fastest Rate Since 1945

The government will increase its top rate of income tax to a higher than expected 50 percent from next year, Chancellor Alistair Darling said on Wednesday as he delivered the government's annual budget.

The tax band had originally been due to rise to 45 percent from 40 percent in April 2011 as Britain seeks to claw back lost tax revenue caused by a deep recession.

The 50-percent rate will apply to any income above 150,000 pounds.

"In November, I announced a new rate of income tax of 45 percent on incomes above 150,000 pounds -- the top one percent of taxpayers," Darling said in his budget speech.

"In order to help pay for additional support for people now, I have decided that the new rate will be 50 percent and will come in from next April -- a year earlier."

They are imposing 50%tax on ppl earning more than 150k per year from next Apr

That could be ambiguous, but it is true to say that :-

The 50-percent rate will apply to any income above 150,000 pounds.

Of course the great majority of people, even the great majority of people coming to the UK on Tier 1, will not be paying the new 50% rate.

I expect other Governments to do similar, for the same reason, to start to recoup the huge deficits that have built up in recent months.

earthangel wrote:This is indeed a very bad news ..They are imposing 50%tax on ppl earning more than 150k per year from next April ...If they are taxed (big corporate guys, CEOs) etc..why will they not shift the offices to other countries ??

Is there any point coming to UK on tier1 (studying hard , getting masters degree, flying and then srching job) if this rule is imposed from Apr 2010 ?

Your views appreciated


http://www.breitbart.com/article.php?id ... _article=1

Govt hikes top income tax rate to 50%
Apr 22 09:50 AM US/Eastern
Email to a friend Share on Facebook Tweet this Bookmark and Share

Britain will increase its top rate of income tax to a higher than expected ...



British Economy Will Shrink This Year at Fastest Rate Since 1945

The government will increase its top rate of income tax to a higher than expected 50 percent from next year, Chancellor Alistair Darling said on Wednesday as he delivered the government's annual budget.

The tax band had originally been due to rise to 45 percent from 40 percent in April 2011 as Britain seeks to claw back lost tax revenue caused by a deep recession.

The 50-percent rate will apply to any income above 150,000 pounds.

"In November, I announced a new rate of income tax of 45 percent on incomes above 150,000 pounds -- the top one percent of taxpayers," Darling said in his budget speech.

"In order to help pay for additional support for people now, I have decided that the new rate will be 50 percent and will come in from next April -- a year earlier."

This has been under consideration for long and not a news anymore. Given huge deficits resulting from the economic downturn it is no big surprise that we are seeing such a thing actioned. Wait till you hear about increased payments by immigrants for NHS and Education..... I dont think the Govt has any other option

Yes it will force some of the top earners out of the UK and is another ill thought out policy of this incompetent government should it be implemented. As others have said, it's not new news though.