Quote:An individual on £500k per annum will pay £241k a year Income Tax and Emploees NI - of this £17.5k is due to the increase from 40% to 50%. The additional income raised is therefore £17.5k. If one person on £500k pa leaves the country or retires early we "lose" £241k tax income.
Therefore the additional income raised from 14 people (£17.5k x 14 = £245k) is required to cover the loss from one person leaving/retiring (£241k). So if 1in 15 stops paying the tax by emigrating or stopping working we break even. If 1 in 14 stops we are worse off.
And if the one who leaves is on £5m pa then we need shedloads of people "only" on £500k to cover the loss!!
Wealthy individuals will do whatever is right for them