There has been vitriol towards the ‘rich’ in the run up to the Autumn Budget, including encouragement for them to leave the UK. Example below – which I have edited to remove profanities.

From a tax perspective, should we care in the ‘rich’ leave?

An employee earning £30,000 which is just below the UK median salary will pay £3,486 in income tax in the 24/25 tax year.

An employee earning £120,000 will pay £39,432 in tax, which is over 𝟏𝟏 times more tax as the person on £30,000, despite earning four times as much income.

So there needs to be over 11 more people earning £30,000 to replace the income tax loss from one person on £120,000 leaving the UK*. Maybe we shouldn’t encourage the ‘rich’ to leave?