Entrepreneurs in exile?

November 01, 2010 4:29 PM

Keith Richards, of the Rolling Stones, from a post on the New York Times' great Freakonomics blog this afternoon:


"We left England because we’d be paying 98 cents on the dollar. [This may sound like an exaggeration, but likely isn't.] We left, and they lost out. No taxes at all."


There's more on this in the band's documentary Stones in Exile.


Matthew Sinclair co-authored a report on entrepreneurship with Jonathan Scott last year. They showed that the 50p rate of tax could mean a top combined marginal tax rate of 92 per cent for successful entrepreneurs on income earned, saved, invested in a company and passed on to children.


With tax rates like that, there could be a few more entrepreneurs in exile.

Keith Richards, of the Rolling Stones, from a post on the New York Times' great Freakonomics blog this afternoon:


"We left England because we’d be paying 98 cents on the dollar. [This may sound like an exaggeration, but likely isn't.] We left, and they lost out. No taxes at all."


There's more on this in the band's documentary Stones in Exile.


Matthew Sinclair co-authored a report on entrepreneurship with Jonathan Scott last year. They showed that the 50p rate of tax could mean a top combined marginal tax rate of 92 per cent for successful entrepreneurs on income earned, saved, invested in a company and passed on to children.


With tax rates like that, there could be a few more entrepreneurs in exile.

Latest Blogs:

TaxPayers' Alliance Icon

Management of the defence estate

11:56 AM 23, Mar 2017 Jan Zeber

TaxPayers' Alliance Icon

Local Authority Facility Time

1:00 AM 14, Mar 2017 James Price

TaxPayers' Alliance Icon

TaxPayers' Alliance respond to the Spring Budget 2017

2:10 PM 08, Mar 2017 The TaxPayers' Alliance

TaxPayers' Alliance Icon

Submission to the Treasury Select Committee - February 2017

9:45 AM 02, Mar 2017 The TaxPayers' Alliance