mikehpeel Posted April 23, 2009 Share Posted April 23, 2009 We have lost out again on petrol and alcohol price rises (not bothered about the fags as I am trying my hardest to give up and succeeding just about) but don't get the benefits of savings ISA increase. Does anyone know if we are likely to ever get ISAs here, has it ever been mentioned by Alan Bell?? Link to comment Share on other sites More sharing options...
Albert Tatlock Posted April 23, 2009 Share Posted April 23, 2009 Does anyone know if we are likely to ever get ISAs here, has it ever been mentioned by Alan Bell?? I heard it mentioned to him on Sunday Opinion a few months ago. I got the message they were looking into something, but with the recent credit crunch, banks collapsing etc. it wasn't seen as a priority at the moment. Link to comment Share on other sites More sharing options...
Sebrof Posted April 23, 2009 Share Posted April 23, 2009 The bit about the budget that worries me is the 50% tax on high incomes. Tax "experts" are already saying that most high earners will find ways to avoid this, and to me that means the goverenment is likely to step up its war on tax-kindly jurisdictions like ours. Somebody proposed the IOM should put big adverts in the papers extolling the fiscal benefits of living here. I can't think of anything more counter-productive. In the present climate that would be like waving a red rag in front of a bull. What would, perhaps, be worth trying is something rather more subtle. Advertisements extolling the island as a perfect holiday destination could also carry a subliminal message that it's a wonderful place to live, too, with low crime, country pursuits, intellectual stimuli like MF, blah, blah, blah. Anybody earning £150k plus who wants to save tax will already have heard of the island. What he needs to be told about is not low tax, but the other advantages. S Link to comment Share on other sites More sharing options...
Moghrey Mie Posted April 23, 2009 Share Posted April 23, 2009 Watch out for calls to change the planning system and allow houses in the countryside for 'high net individuals' who are escaping from UK. Link to comment Share on other sites More sharing options...
Ringwraith Posted April 23, 2009 Share Posted April 23, 2009 The bit about the budget that worries me is the 50% tax on high incomes. Tax "experts" are already saying that most high earners will find ways to avoid this, and to me that means the goverenment is likely to step up its war on tax-kindly jurisdictions like ours. Somebody proposed the IOM should put big adverts in the papers extolling the fiscal benefits of living here. I can't think of anything more counter-productive. In the present climate that would be like waving a red rag in front of a bull. What would, perhaps, be worth trying is something rather more subtle. Advertisements extolling the island as a perfect holiday destination could also carry a subliminal message that it's a wonderful place to live, too, with low crime, country pursuits, intellectual stimuli like MF, blah, blah, blah. Anybody earning £150k plus who wants to save tax will already have heard of the island. What he needs to be told about is not low tax, but the other advantages. S We already do that with TV adverts. How can advertising our main area of expertise and tax structure be counter productive at a time when our neighbour has announced it will be increasing tax on their highest earners? This is the perfect time to act, do you really think that if we sit here quietly the UK will let us be? We should be fighting for every scrap of business there is to be won, including attracting new wealth to re-locate. By all means include the other attractions you list, but the main focus of any advert I suggested should be the financial attractions. Link to comment Share on other sites More sharing options...
Cambon Posted April 23, 2009 Share Posted April 23, 2009 Somebody proposed the IOM should put big adverts in the papers extolling the fiscal benefits of living here. I can't think of anything more counter-productive. In the present climate that would be like waving a red rag in front of a bull. Actually, that is pretty much what we should do, because you can be damned sure other lower tax jurisdictions like France, Spain, Germany, etc. get their oars in. Link to comment Share on other sites More sharing options...
manshimajin Posted April 23, 2009 Share Posted April 23, 2009 The bit about the budget that worries me is the 50% tax on high incomes. Tax "experts" are already saying that most high earners will find ways to avoid this, and to me that means the goverenment is likely to step up its war on tax-kindly jurisdictions like ours. Somebody proposed the IOM should put big adverts in the papers extolling the fiscal benefits of living here. I can't think of anything more counter-productive. In the present climate that would be like waving a red rag in front of a bull. Anybody earning £150k plus who wants to save tax will already have heard of the island. What he needs to be told about is not low tax, but the other advantages.S Agree. Not really a time to poke sticks into the lion's cage or we will end up like Albert and his stick with the horses head handle . Most £150k plus income earners will stay on in the UK on the basis that there are other things in life than tax that determine where they live. Ones who are concerned more about tax than other things will have tax advisers - if they are any good they will advise on jurisdictions that have lower tax rates than the UK - the list is a long one. Probably the key market is £150,000 plus income earning pensioners. IMO the decision of a relatively few people to go to the CI, Luxembourg, Netherlands, Slovakia, IoM etc etc is going to be made on lifestyle issues - which vary enormously from person to person - family, love of sun, attitude to 'foreigners', language, proximity to UK, convenience of transport connections, etc... The current advertising campaign is better at promoting life here than recommending us as a tourist destination so funnily enough is helpful in this context. Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted April 23, 2009 Share Posted April 23, 2009 Somebody proposed the IOM should put big adverts in the papers extolling the fiscal benefits of living here. I can't think of anything more counter-productive. In the present climate that would be like waving a red rag in front of a bull. Actually, that is pretty much what we should do, because you can be damned sure other lower tax jurisdictions like France, Spain, Germany, etc. get their oars in. But there's only 350,000 of them (source: Times 23/4/09) earning over £150k, so advertising in daily papers would be a huge waste of money as it's not targeted enough - not to mention the aforementioned negative reputational issues. Far better to specifically target the UK accountants/tax planners who will be offering advice to these people, through specialist publications or even workshops/seminars. Probably at 75%-100% of the cost of a national press campaign but with 10x the impact. Link to comment Share on other sites More sharing options...
triskelion Posted April 24, 2009 Share Posted April 24, 2009 Far better to specifically target the UK accountants/tax planners who will be offering advice to these people, through specialist publications or even workshops/seminars. Probably at 75%-100% of the cost of a national press campaign but with 10x the impact. IMO Government should stay the fudge out of it and leave it to the relevant businesses to market their products. Link to comment Share on other sites More sharing options...
Sebrof Posted April 24, 2009 Share Posted April 24, 2009 Agree. Not really a time to poke sticks into the lion's cage or we will end up like Albert and his stick with the horses head handle . The finest that Woolworths could sell. S Link to comment Share on other sites More sharing options...
Albert Tatlock Posted April 24, 2009 Share Posted April 24, 2009 Far better to specifically target the UK accountants/tax planners who will be offering advice to these people, through specialist publications or even workshops/seminars. Probably at 75%-100% of the cost of a national press campaign but with 10x the impact. IMO Government should stay the fudge out of it and leave it to the relevant businesses to market their products. Would totally agree with that. Link to comment Share on other sites More sharing options...
Bombay Bad Boy Posted April 26, 2009 Share Posted April 26, 2009 We’re fleeing high-tax Britain, say City tycoons Peter Hargreaves, the £10m-a-year co-founder of Hargreaves Lansdown, the financial adviser, is looking at the Isle of Man or Monaco. Link to comment Share on other sites More sharing options...
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