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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (147544)	4/1/2019 5:59:01 PM
From: Elroy Jetson	1 Recommendation Recommended By elmatador Read Replies (2) \| Respond to of 218710

One reason many wealthy UK residents live outside the UK is, after 366 days abroad, they receive income derived from sources outside the UK free of UK tax. UK derived income is still taxable by the UK. But this is an unusual tax law put into place by the wealthy of the UK for their own benefit. Wealthy US citizens can't achieve the same tax-free status by moving outside the US, so most wealthy Americans live in America. In order to escape US taxation, wealthy Americans must first pay all taxes which would have been due if they sold their asset, live outside the US permanently and give up their citizenship - and even at that I think they still owe taxes for another ten years.