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Tax Justice UK @taxjusticeuk.bsky.social · 1h

So it’s time for the UK to follow the example of 🇺🇸 🇫🇷 🇩🇪 🇳🇱 🇨🇦 🇦🇺 🇪🇸 🇮🇹 🇳🇴 🇯🇵 and introduce a settling up tax.

If your successes are made possible by the UK, then you should pay back into the same system. 9/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

Well, some people will say that’s the price you pay to stay “attractive”, or that billionaires, like Storonsky leaving should scare us into lowering taxes.

The problem is you can’t win a tax rate race to the bottom with a country already offering 0%... 8/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

That's a tax on unrealised gains on shares & financial assets— to stop the super-rich dining and dashing.

A lot of countries already have similar taxes.
🇺🇸 🇫🇷 🇩🇪 🇳🇱 🇨🇦 🇦🇺 🇪🇸 🇮🇹 🇳🇴 🇯🇵

So, why is the UK letting billionaires take advantage of us? 7/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

If some greedy billionaires want to leave for a tax haven when it's time to give back; we should make them settle up what they owe on the way out…

That’s why we're calling for a settling up tax. What's that? 👇 6/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

Revolut’s HQ is staying in London. So, Storonsky will keep reaping the benefits of Britain— just not paying for them.

Let’s be clear: most wealthy people are happy staying & paying taxes.

In fact, 72% of millionaires want to be taxed more. But.... 5/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

But when it’s time to pay back into the system that was crucial to making him extremely rich— Storonsky has relocated.

That’s a slap in the face to every UK taxpayer that helped build the ecosystem that made Revolut’s success possible.

And here’s the kicker... 4/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

So, he wouldn’t have to pay a penny in capital gains tax on his share of the expected $200 billion sale.

Revolut was founded in a London tech incubator. Its rise was powered by UK-trained talent, UK legal protections, UK regulators, UK market access and UK infrastructure. 3/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

Storonsky hasn’t officially given a reason for relocating, but it could be because the UAE doesn’t tax personal income....

And Revolut — of which Storonsky owns ~25% — is expected to hit the stock market soon. 2/9

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Tax Justice UK @taxjusticeuk.bsky.social · 1h

The UK urgently needs a settling up tax— to stop the super rich from exploiting us.

Nikolay Storonsky, the billionaire CEO of Revolut, has officially moved his tax residency from the UK to the UAE.

Why? And what should we do about it? 🧵1/9

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Tax Justice UK @taxjusticeuk.bsky.social · 5h

👏Say it louder for the Chancellor's in the back Rebecca!

Rebecca Long-Bailey @rebeccalongbailey.com · 6d

Wealth taxes are not only sensible – they are urgently needed. They are the key to unlocking the funds required to build an NHS fit for the future, deliver schools that inspire, create green jobs, & ensure no child grows up in poverty.

Read more 👇
labouroutlook.org/2025/09/25/w...

Wealth Taxes Are Sensible and Urgently Needed – Rebecca Long-Bailey MP

We need wealth taxes now, writes Rebecca-Long Bailey.

labouroutlook.org

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Tax Justice UK @taxjusticeuk.bsky.social · 21h

Every year, $100s billions that should be funding schools, hospitals & social care is disappearing into tax havens to fuel crime, conflict & new private jets.

The UK facilitates 26% of this global tax abuse, and has the power to expose it.

Demand they act.
taxjustice.eaction.org.uk/iP_tax-haven...

Expose tax haven secrets

No more secrets, no more safe havens for dirty money.

taxjustice.eaction.org.uk

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Tax Justice UK @taxjusticeuk.bsky.social · 1d

🔥 In case you missed it…🔥

@zackpolanski.bsky.social used his QT appearance last week to talk about the case for a #WealthTax, and to remind us we shouldn’t be intimidated by the empty threats of a minority of greedy vested interests.

@patmillsuk.bsky.social are happy to pay their fair share.

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Tax Justice UK @taxjusticeuk.bsky.social · 2d

Trump wants to take £5.2bn from the British public & give it to his billionaire buddies. If the UK says no, and refuses to cut the Digital Services Tax on tech giants, he is threatening more tariffs.

Starmer must not let Trump bully us.
taxjustice.eaction.org.uk/protect-the-...

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Tax Justice UK @taxjusticeuk.bsky.social · 3d

🫵 We need you.

The fight for a wealth tax is heating up. 🔥

📨 Join our mailing list today to hear from Faiza Shaheen, Jake Atkinson & the rest of our team on how you can help us turn pressure into policy.
taxjustice.uk/join-the-tax...

Join the Tax Justice Movement - Tax Justice UK

Sign up today to receive all the latest news, analysis and opportunities to get involved in the fight for tax justice, from Faiza & the team.

taxjustice.uk

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Reposted by Tax Justice UK

Oxfam EU @oxfameu.bsky.social · 5d

📢 EU Billionaires’ wealth surges by over €400bn in first half of 2025.

That’s over €2bn a day.

🔗https://www.oxfam.org/en/press-releases/eu-billionaires-wealth-surges-over-eu400-billion-first-half-2025

#TaxTheRich

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Tax Justice UK @taxjusticeuk.bsky.social · 6d

Ways to Get Rich in the UK (2025 Edition)

1⃣ Be born into a rich family
[END LIST]

Inequality is obscene and becoming more and more entrenched. We need a #WealthTax.
www.lbc.co.uk/article/almo...

Almost impossible for Brits to work their way to being rich, says report | LBC

The average worker would need to toil away and bring in more than a lifetime's worth of earnings in order to become wealthy, according to analysis by a think tank.

www.lbc.co.uk

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Tax Justice UK @taxjusticeuk.bsky.social · 6d

If the government is serious about tackling inequality, it's time to invest and make sure HMRC has the tools to take on the super-rich tax dodgers and their clever accountants.

If they collect the taxes they’re actually owed, maybe we could all actually find an NHS dentist. 5/5

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Tax Justice UK @taxjusticeuk.bsky.social · 6d

HMRC’s current estimate of the total tax lost to offshore accounting is £300 million.

Given the estimated £849 billion being held offshore by UK tax residents, many experts think this is a laughable under-estimate, plus its based on data from 2018!
taxwatchuk.org/offshore-tax...

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£300m lost to offshore avoidance by UK residents in 2018

HMRC's first offshore tax gap report looks to understate losses at £300m

taxwatchuk.org

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Tax Justice UK @taxjusticeuk.bsky.social · 6d

The Public Accounts Committee found that HMRC doesn't even know what tax billionaire’s have been paying, let alone what they should be paying.

Or how much tax is being dodged by hiding cash and assets offshore...

3/5
news.sky.com/story/hmrc-d...

HMRC 'doesn't know' how many billionaires pay tax in the UK

"There is much public interest in the amount of tax the wealthy pay. People need to know everyone pays their fair share," a group of MPs warn.

news.sky.com

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Tax Justice UK @taxjusticeuk.bsky.social · 6d

This shows that investing in data, tech and talent for HMRC will likely pay for itself many times over.

That's because HMRC can't collect what they can't see.

🏝️💸And the super-rich are likely hiding £billions from them in offshore accounts.

How much⁉️ They have no idea...

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Tax Justice UK @taxjusticeuk.bsky.social · 6d

Is this the answer to HMRC's billionaire blindspot 👀🤑? 🧵 1/5

A new report in the FT shows that HMRC clever 'big data' tech tools enabled HMRC to recoup £4.6billion in unpaid taxes last year.

That's more than the entire budget for NHS dentistry!

ft.com/content/4733...

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Tax Justice UK @taxjusticeuk.bsky.social · 7d

Every year, $100s billions that should be funding schools, hospitals & social care is disappearing into tax havens to fuel crime, conflict & new private jets.

The UK facilitates 26% of this global tax abuse, and has the power to expose it.

Demand they act.
taxjustice.eaction.org.uk/iP_tax-haven...

Expose tax haven secrets

No more secrets, no more safe havens for dirty money.

taxjustice.eaction.org.uk

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Tax Justice UK @taxjusticeuk.bsky.social · 7d

If you do one thing today ▶️ Use
@positivemoneyuk.bsky.social 's handy tool to email your MP and demand the government #TaxTheBanks!👇

Positive Money UK @positivemoneyuk.bsky.social · 8d

🚨 Bank taxes on the front page of The i today! 🚨

Our #TaxTheBanks campaign has never felt this close to a win - now we need you to email your MP to get it over the line!

Head to bit.ly/TaxTheBanksMP... and use our template today!

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Tax Justice UK @taxjusticeuk.bsky.social · 10d

Trump’s pressuring the UK to axe the 2% Digital Services Tax (DST) on tech giants like Amazon, Meta and Google — one of the few taxes they actually pay.

Scrapping DST could cost us £5.2bn. Starmer is apparently ready to cave.

📧 Write to your MP today.
taxjustice.eaction.org.uk/protect-the-...

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Tax Justice UK @taxjusticeuk.bsky.social · 10d

#WealthTax now.
www.bbc.co.uk/news/article...

Musk becomes first person ever to see wealth top $500bn

The rise has been driven by a sharp increase in the value of his electric car company Tesla.

www.bbc.co.uk

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