2/3 of millionaires leave Britain to avoid 50% tax

[PsychoSerenity]

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.
This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

Other than leaving Britain or reducing their income to below a million pounds, what alternative is there?

Did you not read my post? HMRC said at least £16 billion in income was brought forward from the 10/11 year to the 09/10 year to avoid paying the higher tax rate that year,

Link please. I need to understand how income not realized in 2010, but anticipated in 2011 can be taxed in 2010. That's not allowed here in the US, so it's something I'd like to understand. Sounds like folks can pre-pay their taxes for 2011 by taking some of what they expect to earn and taxing at the 2010 rate. I must be misunderstanding it, because that sounds ludicrous.

http://www.channel4.com/news/emma-harri ... x-analysis

[Coito ergo sum]

Well, duh. What that says is that companies declare an pay dividends in 2009, and the people receiving the dividends would pay tax at the 2009 rate for the money received in 2009. There is no guarantee that companies would necessarily have given those same dividends in 2010.

The same shit is happening here in the States over the fiscal cliff. http://www.cnbc.com/id/49993082