UK bankers flee to Switzerland to avoid taxes

first_img UK bankers flee to Switzerland to avoid taxes whatsapp Show Comments ▼ Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com BRITISH bankers migrating to Switzerland surged by almost a third last year, as its low personal and business taxes lured workers to the alpine territory. A total of 383 British citizens working in banking and financial services moved to Switzerland in 2010 – marking a 28 per cent increase on 2009, according to official figures from the Swiss Federal Migration Office. Including insurance and consulting industries in the financial sector, 1,379 Britons gained permission to work in Switzerland in 2010 – a 29 per cent increase over the 2009 figure. The increase in the rate of immigration of British bankers exceeds that of other nationalities, according to the Federal Migration Office, suggesting that the 50p top rate of tax on earnings above £150,000, and bonus restrictions are driving workers out of the UK. Matthaeus Den Otter, of the Swiss Funds Association, said: “These figures sound very plausible. There has been a steady influx of skilled workers. We estimate that some 20 to 25 firms of UK hedge funds have set up offices in Switzerland over the past year, and the banks will have sent over some specialised staff as well.” center_img KCS-content whatsapp Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Thursday 17 February 2011 8:52 pmlast_img read more