Londoners Moving To Switzerland

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

Spoke to removals man today - interesting conversation - said it was very quiet apart from being incredibly busy on the London to Switzerland route - mix of foreign nationals (USA, etc.) and Brits bailing out of London.

Edited January 13, 2011 by gruffydd

[futurepaul]

Spoke to removals man today - interesting conversation - said it was very quiet apart from being incredibly busy on the London to Switzerland route - mix of foreign nationals (USA, etc.) and Brits bailing out of London.

Good pay, safe, clean and low tax.

Housing is is just as stupidly over inflated and rent demand is high in Zurich

But the long term rental system is very good

Works for me :-)

[Georgia O'Keeffe]

Spoke to removals man today - interesting conversation - said it was very quiet apart from being incredibly busy on the London to Switzerland route - mix of foreign nationals (USA, etc.) and Brits bailing out of London.

its starting to take the pish now, you can walk up Bahnhofstrasse and there is more English spoken than in London

[@contradevian]

These bankers and hedge fund managers? Oh dear what a shame. Wait a minute....

[stormymonday_2011]

its starting to take the pish now, you can walk up Bahnhofstrasse and there is more English spoken than in London

Sure sign that the neighbourhood is going to the dogs.

[skomer]

I feel sorry for the Swiss but on the bright side it must be good news for the London property market

Might make London a more liveable place too

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8255860/UK-sees-non-dom-exodus-as-30000-levy-hits-home.html

HM Revenue & Customs said the number of UK residents escaping tax on income or capital gains held in offshore bank accounts had declined from 139,000 to 123,000 in the year prior and after the launch of the £30,000 remittance basis charge in April 2008.

The 11.5pc decline was the first for five years and is likely to have been repeated in 2010 as more long-term non-dom residents become liable to the change, lawyers said.

McGrigors, the law firm which secured the figures under a Freedom of Information request, said the “collapse” in numbers of non-doms should be a warning to the Government not to tighten the rules on how offshore wealth is taxed.

The Coalition has pledged a review to assess whether non doms were making “a fair contribution to reducing the deficit” and a Treasury spokesman said last night that the review was “ongoing”. “A further announcement will be made at the appropriate time,” he said.

George Osborne, the Chancellor, proposed a £25,000 annual levy while in Opposition and Deputy Prime Minister Nick Clegg described the £30,000 fee introduced by Labour as a “flea bite” to wealthy non-doms.

[@contradevian]

Yeap, it is.

All that wealth generation going off shore, you think that's good do you?

Wealth Generation? Where an earth are you guys when UK factories closed and the jobs outsourced to Poland or China, or the head office gets moved to CH or Ireland to avoid tax. Yet a couple of hedgies move out and you scream "wealth generation!"

FFS!

Edited January 13, 2011 by Sir John Steed

[wealthy]

bye then, hope you enjoy one of the most boring conservative places on the planet

[Georgia O'Keeffe]

Wealth Generation?

i think he means Capital flight

[@contradevian]

i think he means Capital flight

They will still want to make money out of UK markets, whilst residing in a low rate of tax haven. Best of luck to them.

[davidg]

bye then, hope you enjoy one of the most boring conservative places on the planet

True true, then I remember that I'm paid in a stable currency and live in the Alps.

[Georgia O'Keeffe]

They will still want to make money out of UK markets, whilst residing in a low rate of tax haven. Best of luck to them.

for non doms switzerland can be higher tax than london because it has a wealth tax and high property taxes (which is why ownership is low), this is what subsidises income and corporate taxes along with a severe lack of diversity officers

Personally we saw three reasons for moving out here 4 years ago

Education system (the liluns were about to start school)

Political system (it is the closest thing you will get to a democracy)

Country Finances (it is relatively small govt therefore low inflation- deflation is the norm )

tax was a relative non issue because of the wealth tax

I still think anyone coming here for pure protection is kidding themselves, switzerland is not immune to large bank risk, and they are coming here after a 40% decline in sterling already

As for switzerland being Conservative, depends where you go, Zurich was home to Needle Park FFS, whatever its faults the most important thing is the electorate are still in charge rather than the elected, when thats lost a dangerous precedent is set and you get a uk situation where you are powerless and getting fcked over by your supposed servants by the day, and to rub it in you pay them to do this

Edited January 13, 2011 by Tamara De Lempicka

[The Masked Tulip]

It is very hard to convinced HMRC that you are no longer domicile for UK taxes even when you live in another country.

You will be surprised at what minor things the HMRC will use later on to claim that you owe UK tax - i.e. a UK mobile phone contract or phone number. Keep your mobo number for business reasons and don't be surprised to have a big tax bill from HMRC when you eventually return.

[Ned Coates]

Central Bank to the the central b*****ers.

Conveniently neutral during WW2...... (Code for you idiots blow each other up on our tabs whilst we quaff wine and champers, and make a packet).

Then we'll give you barnes wallis/whinston/BoB crap till you die of boredom.

[Protect Rural England]

bye then, hope you enjoy one of the most boring conservative places on the planet

I shall, thank you.

Boring? You mean the streets are not full of unclean, unshaven, dirty clothed, rude, ignoramus chavs?

Conservative? You mean there was a referendum on whether the each town or city should allow minarettes?

Thinking about my decision to move seems ever more tempting.

Meanwhile enjoy the potholed roads, the corrupt politicans at every level, the overcrowded over priced everything, the high level of taxation, the unreliable public anything.

Ciao

[LuckyOne]

I feel sorry for the Swiss but on the bright side it must be good news for the London property market

Might make London a more liveable place too

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8255860/UK-sees-non-dom-exodus-as-30000-levy-hits-home.html

HM Revenue & Customs said the number of UK residents escaping tax on income or capital gains held in offshore bank accounts had declined from 139,000 to 123,000 in the year prior and after the launch of the £30,000 remittance basis charge in April 2008.

The 11.5pc decline was the first for five years and is likely to have been repeated in 2010 as more long-term non-dom residents become liable to the change, lawyers said.

McGrigors, the law firm which secured the figures under a Freedom of Information request, said the “collapse” in numbers of non-doms should be a warning to the Government not to tighten the rules on how offshore wealth is taxed.

The Coalition has pledged a review to assess whether non doms were making “a fair contribution to reducing the deficit” and a Treasury spokesman said last night that the review was “ongoing”. “A further announcement will be made at the appropriate time,” he said.

George Osborne, the Chancellor, proposed a £25,000 annual levy while in Opposition and Deputy Prime Minister Nick Clegg described the £30,000 fee introduced by Labour as a “flea bite” to wealthy non-doms.

The problem is that the non-doms recognise that fleas were the carriers of the bubonic plague.

Once you have felt their bite, it might already be too late.

[Executive Sadman]

Found out one of my school mates has just moved to switzerland actually.

[Georgia O'Keeffe]

I have a proposal to make to the European Union - anyone who wants to benefit from a market must pay taxes in that market.

You are free to move to Switzerland - but you're never allowed to set foot in the EU again and all internet contact with your compatriots is cut off. Oh - and no NHS, family visits, etc etc.

i have a better proposal, lets all put flowers in our hair and run around making love not war

PS regarding the NHS i assume you are taking the piss on that, the swiss health system isnt the US which whilst used on here as the antithesis of the NHS bears striking resemblance to it in keeping costs excessively high

Edited January 13, 2011 by Tamara De Lempicka

[LuckyOne]

for non doms switzerland can be higher tax than london because it has a wealth tax and high property taxes (which is why ownership is low), this is what subsidises income and corporate taxes along with a severe lack of diversity officers

Personally we saw three reasons for moving out here 4 years ago

Education system (the liluns were about to start school)

Political system (it is the closest thing you will get to a democracy)

Country Finances (it is relatively small govt therefore low inflation- deflation is the norm )

tax was a relative non issue because of the wealth tax

I still think anyone coming here for pure protection is kidding themselves, switzerland is not immune to large bank risk, and they are coming here after a 40% decline in sterling already

As for switzerland being Conservative, depends where you go, Zurich was home to Needle Park FFS, whatever its faults the most important thing is the electorate are still in charge rather than the elected, when thats lost a dangerous precedent is set and you get a uk situation where you are powerless and getting fcked over by your supposed servants by the day, and to rub it in you pay them to do this

The Swiss do direct rather than representative democracy very well.

I would feel much better about the general public disagreeing with me than I do about the political class disagreeing with me if I had the choice.

[DungBeetle]

bye then, hope you enjoy one of the most boring conservative places on the planet

Give me boring then. I've lived in Switzerland on and off for the last six years, and it is a fantastic place to live.

[Executive Sadman]

Found out one of my school mates has just moved to switzerland actually.

I should add to that if he's anything like his dad in business, he's proabably doing the UK a favour. Well off family, unfortunately the creditors never saw much of that wealth in his half dozen or so failed businesses.

[Protect Rural England]

I have a proposal to make to the European Union - anyone who wants to benefit from a market must pay taxes in that market.

You are free to move to Switzerland - but you're never allowed to set foot in the EU again and all internet contact with your compatriots is cut off. Oh - and no NHS, family visits, etc etc.

I have a better idea.

Why not allow the residents of each country to have a referendum on whether they want to remain part of an elitist and corrupt "federation" which has no democratic mandate?

Why not offer all people the same opportunity to vote on whether they wish to remain part of a trading group of Nations?

And, I do hope you take the same view as to deny any immigrant under any circumstances the opportunity to set foot here also.

[Georgia O'Keeffe]

The Swiss do direct rather than representative democracy very well.

I would feel much better about the general public disagreeing with me than I do about the political class disagreeing with me if I had the choice.

theres nothing special about swiss people but its a straightforward calculation to make that it is easier to buy/corrupt one person than a few 100 thousand

[wonderpup]

All that wealth generation going off shore, you think that's good do you?

Who has done greater harm to this country- the finance sector or islamic terrorists?

Who is right now the greatest threat to this country - the finance sector or islamic terrorists?

Generating profits on the back of taxpayer backed risk, or historic low interest rates is not 'wealth generation' it's simply gambling with other people's money.

How much of that paper 'wealth' exists, when all the hidden liabilities are counted- not bloody much I suspect.

[Georgia O'Keeffe]

I'm being facetious of course but there is a serious point. The money system cannot work if it is unable to balance. The means of balancing the money system between the indebted and those with the other half of the derivative of credit money are more equal pay/trade between people, transfer payments via the tax system, inflation or default.

If you have groups of people sheltering their gains from tax and are actually using that capital to perform some sort of reverse tax - it eventually leads to disaster - regardless of the moral questions. That disaster can only appear as default or inflation or indeed both.

Clearly you and the others on this thread who have f*cked off can expect to get a decent amount of approbrium heaped on your heads for being selfish - but I don't blame you. You're only doing what the incentives tell you to do, what the system allows or what you can get away with. Everyone does that - and hence you need to change the rules to stop such action or have sanctions of one kind or another.

Clearly without thought my solution may be unworkable at face value - but where there is a will to tackle these things there is always a way. I despair at the lack of will.

its not really selfish, my number one look out is for my family as is everyone elses or should be, thats nature, when the govts start doing their job i'll be a happy man, it depresses me to see this historic level of theft and corruption, you lot have got to sort out your govt/political class, easier said than done when 99% think what the govt is doing is helping them, we just took the easy way out

Edited January 13, 2011 by Tamara De Lempicka