The madness of the tax system

Three years ago, Guy Hands, the founder of Terra Firma buy-out group, packed up and moved from UK to Guernsey to escape the new 50 per cent tax rate slapped on Britain's highest earners -- that is, those with incomes of £150,000 or more. Unfortunately, it's not possible for all Fools to follow big Guy's example and up stakes to the tax haven because A) there's not enough room on the island and B) not many of us have enough wealth to qualify.