Word: britishers
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...Jersey, the Bahamas and several other countries where the rich stash their money beyond the reach of grabby governments back home. But there was one surprising new entry on the list: the United Kingdom. The IMF was merely recognizing what wealthy foreigners in Britain have known for years. While British citizens shoulder taxes of up to 40%, residents who weren't born there can take advantage of the nondomicile - or nondom - rule, which means they're only taxed on income made in or brought into the country. With most of their cash safely tucked away in offshore trusts, foreigners...
...says one French private-equity investor who has lived in London for over 15 years. "It's been a bonanza time for nondoms - like Christmas every day." But here comes the Grinch. Spurred on by mounting criticism over what many see as unfair special treatment for rich foreigners, the British Treasury has announced that the fun is over. Along with a new 18% flat rate for capital-gains tax, the government is proposing an annual fee of around $60,000 for any foreigner who lives in the country for more than seven years, and wants the tax man to keep...
...British development company Urban Space Management put in its bid for gritty glamor with Container City, a warren of 15 artists' studios fashioned from 20 recycled containers in London's Docklands district in 2001. The crated community proved so popular, it was expanded to 40 units a year later. Since then, Urban Space has constructed 27 other buildings from recycled containers around the U.K., including classrooms, a health center and a recording studio...
...Nonetheless, the vote comes as coinage has become tightly bound in questions of identity. The British government created an outcry recently with plans to remove Britannia, the female personification of the country since Roman times, from the 50-pence coin...
Amid the cacophony of placard-wielding Clinton and Obama supporters trading slogans and insults, or just bellowing greetings to newcomers pushing into the hall, Bill Barnard pleads for attention. "Ladies and gentlemen," says the chairman of the British branch of Democrats Abroad, "we have a serious problem." To anyone unaccustomed to the rowdy caucus tradition, that statement might seem self-evident. "It's chaos," says Barbara Lewis, a 64-year-old American who has lived abroad for 37 years and, until tonight, had never cast a vote. Like the hundreds of U.S. citizens still queuing to enter the building...