UK Tax Rates 50%....USA Next ?

Is this the combined national + province tax rate?

 

If your smart and extremely good at trading though then you can trade from the UK without paying any tax whatsoever!!

You will have bigger spreads than normal brokers,
but unlike with using brokers you can trade directlt through an SB firm and so elimate the broker as the middleman who you have to deal with.

+all profit is tax free

 

of course..when you try to tax people to death at some point they will stop paying at all.small businesses will accept cash only and not going to report it either.
cash and barter baby...been there,done that in soviet union...

 

but ur spreads are so much it is equivalent to us paying taxes....then whats the pt.

 

plus

gst
pst
cpp
ei
wsib
rst
hst
property tax
tax tax

 

i have resigned to the fact that i ahve to pay taxes. ITS OKAY GUYS, money isnt everything, try to leech off the govt as much as possible, thats my advice

 

lol

It depends on how you trade.

If you scalp for precise amounts of single digits ticks then its not worth it for you.

But if you swing trade/day trade by take out chunks of 60 t 90ticks profit,
you just wont notice an etra 8tick less profit that was paid as spread.

Since if you were trading trhough a broker you could quitely easily cash in 8ticks sooner, but then would pay 30%-50% tax on it.

 

Even if it may be a cumbersome process (if you're a US citizen it may take up to 10 years and involves relinquishing your citizenship), now is the perfect time to move to low tax jurisdictions in the Caribbean, Switzerland, Monaco, Cyprus etc. in order to protect your wealth for your children. The tax man won't leave the wealthy alone for an entire generation (or two).. until all this toxic junk is paid off.

 

The new rich

 

The 50% is only on earnings above £150,000.

On £250,000 or $360,000 gross earnings.

UK

Income tax
0% on first £6,475
10% on next £2,230
22% on next £34,600
40% on next £108,925
50% on the rest
Total income tax paid = £76,492.5 / $112,571

National insurance
11% on first £43,888 = £4,827.68
1% on remainder = £2,061.12

Total tax paid = £83,381.3 / $122,681.98


USA

Federal tax
35% on everything
Total income tax paid = $104,597 / £71,068.75

State tax
6% average = $21,600

Total tax paid = £85,788.96 / $126,197

Then you've got medical insurance on top...