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City of London about to become the MOST highly taxed financial centre in the world

If you're earning more than 250k and have an aversion to paying tax, it is probably time to leave the City of London. As the graph below shows, the City is about to become the most highly taxed financial centre in the world.

When the new 50% rate of income tax is imposed next year and social security payments are also taken into account, a married banker earning 250k in the City of London will retain only 50% of his/her gross income.

This is a lot lower than Paris (58%) and Frankfurt (60%) and Zurich (68%).

It is massively lower than Dubai (95%).

Percentage of 250k (or equivalent) retained after income tax and social security payments

Percentage of income retained after tax.

Source: PricewaterhouseCoopers

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AUTHORSarah Butcher Global Editor
  • Ma
    Maka
    9 December 2009

    So you have two choices: either create your small business with not much people involved or move elsewhere)

  • jo
    johnrobert
    8 May 2009

    Anyone know where Vienna, Geneva, Chicago and Seoul are? Might be nice if the graph were to have a few more cities listed

  • bc
    bc
    7 May 2009

    TechnicalNomad
    too long and empty - got bored reading after first sentence

  • Te
    TechnicalNomad
    7 May 2009

    -- correction
    The moderator left out my last sentence.

    is it not enough ?
    So, please let London be open city and open department.
    Closing of 2-3 banks is NOT going to make a radical change in how we do business and how we buy and sell.

    Please provide more education to people around and OFcourse eliminate unjust bonuses and throwing wild parties of 50,000 in hotels when 90% of banking staff makes less than 50 K in London city.

    We should restrict on spending people's money on madness. But we should not restrict on spending company or bank money in growing business to innovate and simplify life for you ,me and around

    Lets keep on innovating and lets keep ourselves detach from this money greed ---------------- very tough one
    i am still fighting like you :)

    I believe no capital system can survive without greed and no want can be taken out from human soul. Therefore comes the need to restrict and put rules in society otherwise we love the jungle anyways

    Lets try to innovate and make a better system whereby greed and want can decide what exactly is true meaning of life.
    Thanks

  • Te
    TechnicalNomad
    7 May 2009

    We live in open market. We have equal chance and equal opportunity. There are some class issues in London -- but forget London-- London is just 1 Pot in the world.

    Rich are richer because they took risk -- they contribute higher taxes too. if they buy cars and houses, all are subject to taxes and VAT- in the end, tax goes to tax department by consumption-- i.e. how we run the economy.-. is it not so ?
    If you are not rich, you are richer because you probably do not have stress of paying 40% of tax, collecting bills--- having accountants and etc --working late night for commitments.

    Nothing is FREE --
    Do not envy about rich or being not rich -

    I believe any tax more than 30% CANNOT BE just even if you are rich or not.

    we work to make life simpler ---- but we are complicating it
    is govt trying to help us to make us work like slave by making system more rigid and complex for citizens.
    Obama may be right for 95% of things -- i agree with him. He want things for citizens-- but i do not agree that obama want to raise taxes on rich. ---
    If i have bought 3 cars, i made SALE of more than 100,000
    and State has collected 30% from me and 30% from car selling company.
    is it

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