Peter Hargreaves, the multi-millionaire founder of Hargreaves Lansdown, has done a u-turn on his plan to flee the UK to escape the new 50% top tax rate announced in April's Budget.
According to The Guardian, chief executive Hargreaves has now pledged to remain in the UK after collecting a £11m dividend from the company. After Alistair Darling unveiled a new 50% top rate of tax in April, Hargreaves blamed the government for causing the financial crisis and announced he was considering escaping Britain for a tax haven. However, his business partner Stephen Lansdown, confirmed Hargreaves has no intention of leaving Britain presently. Hargreaves Lansdown's profits were up 20% to £73.1m in the year to June and the company will pay a special dividend, hiking its to...
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