Sunday, Jun 14, 2009
Property in the states anyone
Telegrath: Lloyds Bank hit by Obama tax purge
Lloyds drops American customers in UK ahead of costly proposals to stamp out tax evasion those affected can be broken down into four categories and besides American nationals include customers where there is "any indication" that they spent more time in the US than "normal holidays currently or in the past or future.
Posted by enuii @ 11:18 PM (405 views) Add Comment
3 Comments
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1. inbreda said...
I am heartily encouraged that Obama seems not to be all mouth and no trousers.
Unlike our own one eyed unelected retard who promises everything and delivers nothing. Every day there seems to be an article headline in the MSM "Brown VOWS to end corruption in parliament", "Brown VOWS to stop tax havens", "Brown VOWS everything and anything"
And what's he done? No more boom and bust? Jeez, he's nationalised banks that STILL have intesrests in tax havens! He'd only have to click his fingers - it's not as if he actually has to do any work, and STILL the useless git achieves nothing.
Did you know that the channel islands has avoided any signs of recession? Why? Because Darling upped the income tax and a load of rich people left england to become resident in the channel islands to dodge tax. Ker-ching!
2. Europeanbear said...
US citizens can not legally avoid US taxes where ever they live (including those US citizens who may have inherited citizenship from their parents but NEVER set foot on US soil). The system is highly critisized by many US citizens residing overseas and in many cases results in double taxation (despite various procedures to minimize it such as foreign tax credits and earned income exemptions). It is a system that perhaps every industrialised country should adopt. At least then we would not see examples such as the obscene cases of members of the house of lords who are domiciled overseas but UK resident (but none tax resident) so they can avoid all taxes on their overseas income.
or alternatively just have a land value tax - land after all can not abscond to the channel islands....
3. lenny said...
If Obama was Prime Minister in the UK, a hell of a lot more people would be upping sticks and getting out of Britain. I know Obama inherited a massive mess from Bush and Paulson but he is still spending his way into the record books in the States and consequently is making a bigger hash of things and not attracting any fans.
Agreed Brown is full of verbal diahroea but tax avoidance is legal and will not go away, maybe just become a little harder to plan. If Brits have had enough of high taxation (5 months pay per year) and are sick of cameras/big brother/petty fines/council tax etc and wish to go live in a tax haven and lose out on NHS treatment (about the only benefit lost) then good for them because there aren't enough good reasons for them to stay here.
Yeah, a lot of people are trapped here financially and cannot make an easier life in Britain with early retirement or have enough to move out but good luck to those who can. At least the Americans cannot lose their tax residence very easily, they get stung wherever in the world they live or work. We had plans on spending 6 months in UK and 6 months in America but the crazy tax laws were enough to change our minds