You have 40% income tax, 20% VAT on goods and services, council tax, tv tax, congestion tax, high petrol duties, environmental taxes on utilitiy providers, stamp duty, and CGT of 50% on any money made on an investment, inheritance tax and pensions will be changed so first 25% is tax free and remainder taxed at income rates.
If you're ultra foreign rich you probably don't pay income tax and instead pay cheaper corporate tax of 21% or nothing if company offshore, pay relatively low council tax, don't pay CGT on property sales (this will change) and can dodge inheritance tax. Can buy property in cash and skip mortgage interest repayments and bank price rises of 10-20% per annum - better return on interest than putting it in the bank. London an attractive option for global rich but UK domiciled salary workers will have to pay a vast percentage of their wealth to the state.
Given the tax rate, the price of homes, transport and private school fees for a family to live comfortably in London they would need huge salaries.
Most people sacrifice their quality of living in terms of property ownership and retirement to make a name for themselves in a global financial capital.
Easiest option is to live in London when single, build career (nowhere better recognised worldwide) and get out later in life.
If you're ultra foreign rich you probably don't pay income tax and instead pay cheaper corporate tax of 21% or nothing if company offshore, pay relatively low council tax, don't pay CGT on property sales (this will change) and can dodge inheritance tax. Can buy property in cash and skip mortgage interest repayments and bank price rises of 10-20% per annum - better return on interest than putting it in the bank. London an attractive option for global rich but UK domiciled salary workers will have to pay a vast percentage of their wealth to the state.
Given the tax rate, the price of homes, transport and private school fees for a family to live comfortably in London they would need huge salaries.
Most people sacrifice their quality of living in terms of property ownership and retirement to make a name for themselves in a global financial capital.
Easiest option is to live in London when single, build career (nowhere better recognised worldwide) and get out later in life.