Why Were So MANY Musicians Forced Into Tax Exile? 

I fully believe in paying fair tax for the good of the country and services. 98% tax is obscene. It was wrong and simply an ideological 'punishment' on musicians. That is not socialism, that is unwarranted.

The UK tax burden in 2024 is now higher than it was in 1968 (ONS figures), despite the fact that our army navy and air force is smaller. The difference now is that the poor now pay more, and the rich pay less.

Strangly enough none of the members of the Beatles liked the tory party. Paul couldnt stand Maggie Thatcher. So even though she cut their taxes, she did so much other things that were really bad for Britain. She created mass unemployment, poverty, and made huge cuts in pensions, healthcare and other important benefits. I agree that she had to cut taxes. 98% tax rates are insane. But i don`t think she needed to cut benefits for the poor. That was cruel, and it created huge social problems.

The same reason the Americans revolted.

I believe the British government seen how the country was creating musicians who could make millions and got the idea of yeah , we could raise taxes and milk them for all they have and later drop the tax when there was nothing to gain from it. I think the British government didn't expect the musicians to fight back in any way they could . Including leaving to lower tax countries. I would have done the same thing .

“‘Cause I’m the Taxman, yeah, I’m the Taxman, & you’re working for no one but me”

What some on this comment thread forget is one simple truth; it's not anyone else's money; not the government, not a politician, not a social justice warrior - it belongs to the person who earned it, whether YOU deem it too much or not; it's theirs. If you want to be rich, learn how to be rich and then DO it - don't envy others, don't cry fairness; go out and earn it and then you can make all the decisions these people make to keep what belongs to them.

2:36 Inspired an incredible Stones album in the south of France, Exile On Main Street. Thanks Inland Tax Revenue ❤🎉

These 60's and 70's rock stars were very wealthy young men even after tax. They were earning money faster than they could spend it despite often getting into bad contracts. It begs the question, how much is enough for any person? Clearly for some enough is never enough. I idolised these people, but having grown up, knowing what I know now it takes the shine off them a lot for me. They preached one thing, but scratch at the surface and they were just individualistic business men without any regard for a collective good. I, me, mine.

They bat (or worst) example of the failures of socialism is the breakup of the Beatles. At that time in Britain anything over a certain income was taxed at 95%. There was no incentive for the Beatles to create a product that people wanted to buy if they themselves couldn’t make money. Their solution was to form their own multi media company to tax at a lower corporate rate. From day one it was intended to waste money so the taxman wouldn’t get it And they wasted their talent right along with it. Apple records quickly became a money pit and all around circus. It lead to tensions in the group and that was the end of the Beatles. If you go to the great welfare states of Scandinavia you don’t see all the homelessness and poverty that you see in America. The problem is there is no incentive for excellence when it brings everyone down to the same level. Why would someone like myself work their way through nursing school and take on that kind of responsibility if I can’t live a bit better than the guy who doesn’t? Why would anyone be a physician or open their own business? Socialism has been discredited. It is wasteful and inefficient and leads government into areas it was never meant to go. Unregulated capitalism has been discredited too. Left to it’s own devices it does what it is intended for do which is gobble up everything around it These economic models have been around a lot longer than the latest politicians swooping down to buy your vote

What nobody's saying: 10% of a million pounds is 100000 pounds. That's a lot in the 1960s. The real issue is that tax money gets misused, the bands had extravagant rockstar lifestyles, it was their managers who made BANK because the bands didn't understand contract law or corporate tax structure, their managers took as much as 25%, and their labels paid out only pennies per record. That's what's really going on there; Greedy businessmen and ignorant artists.

Its the opposite in America. The low income and middle classes pay the largest share of taxes. However the wealthy 1% and large corporations get tax cuts. One big reason why Americans dont have a universal health care system. Plus big buck$ donations from.the wealthy and corporations to politicians keep the status quo. Another reason why I left the usa. I can't afford to live there either.

Thanks for sharing.🎸

And what really happens is that when the tax rate is lowered, the economy booms so much that the total revenues to the government actually go up. But it’s really not about “fairness” is it?

I always assumed that once a band was successful they incorporated & were somewhat protected by corporate tax laws/deductions. It seems unfair to go after individuals who worked for years making next to nothing (as most artists do) & then take 90% of their earnings once they hit it big. I don't blame them for leaving. Sad that they had to.

What of artists who did not leave? They include Paul McCartney, Elton, etc, not to mention high earners of the period like Sean Connery (until 1980), and the racing drivers Sterling Moss (active ~1952-62) and Jackie Stewart. I don't know UK personal income rules, but in the US it's common for a high earner to create companies that take in gross income and pay the artist, athlete, etc a salary. Much of what regular people have to pay for with taxed moey can be moved under the company as a deductible expense - transportation, some housing, entertainment, etc.

Read George Tremlett's book, "Rock Gold". It's old but valuable

Years ago I had heard about the tax exile problem in the UK. This documentary explains it very well.

The only mistake they made was allowing them to leave the country. The rich should be forced to work for nothing, 100% tax for the rest of their lives.

06:55 About Ringo: Monte-Carlo is a district of Monaco (the country). So basically this is the same Tax haven, not a another tax haven!

Nobody dreams of giving govt anything, but everybody expects govt to do everything.

The first time I visited the UK in 1980, it felt like a country on the verge of 3rd world status. Germany, the country that lost WW II was in far better shape. Love her or hate her, after Margaret Thatcher, everything changed. Giving people incentives to be financially successful seems to have a better effect on a country overall than punishing success.

I feel so sorry for them only being able to afford one Rolls Royce and mansion. I'm off now to wait for eight hours in A& E.

I had to laugh at the irony of this. All of the socialism that's espoused in the music (then and now) has to be funded some how -doesn't it? Feed the hungry, that are living in the streets. Shoe the children, with no shoes on their feet. It all sounds so noble. It's all fun till someone gets their financial eyeballs poked out. Imagine all the hypocrites -John. God only asks for ten percent. The amazing thing is this. If we hadn't heeded to the message of Rock and Roll, if we hadn't abandoned the divine principles that God espouses, our governments wouldn't need to tax us to the hilt to pay for all the disfunction that exists in the world as a result. Just how is Sweden making all of its revenue -I wonder? What's their secret?

Good documentary. Great insight all these British stars were on the run through the highs of their era.

Yes; What George Said. ☮🕉🌎

These days the mega rich pay no taxes at all! How the worm has turned 😅

I still blame UK taxes, ultimately, for the death of Bonzo and the breakup of Led Zeppelin:

Success must be punished.

I had NEVER known the full or correct story so you made my day as I always wondered WHY the Artists spent more time abroad..I am all for Tax at age 77 but even my Small Self Employment Tax rate is still ridiculous..you brought good Memories of me in London in the early 80'and it was years later in a video up here I saw Cheyne Walk was where Keith lived when he was in UK..I passed through there on way to Belgrave Square Spiritual Art Demonstation... Keith was and still is favourite Stone...In the 80's in London where I made music as a hobby we walked from Harrods hence bypassing Keith's Cheybe Walk which had massive gate..This info shows the other side of Artists life so you worth it and thanks fir being so explicit..I understand totally now but still amazing at the rates of 90-98% . To be honest 22% to 44% maximum I feel would be enough as over 90% is ROBBERY and BRUTAL..

I remember at same time Lord Vesty who was financially savvy & used expensive lawyers paid £1 per year, absolutely disgusting. She was also putting pressure on Queen Elizabeth to Knight Saville.

It was not just musicians who paid this stupid level of tax. Would anyone seeing this be happy with paying 90% income tax. Many moved to Switzerland where they can negotiate their level of tax.

Man, it’s tough being a rockstar, a multimillionaire/Billionaire and then you come home to find out you have live like everybody else man that’s rough man.

98%tax is crazy let everyone pay 20% no exeptions problem solved.

The Laffer Curve …

You guys have to pay for your Royals. Lol

Funny how these bands tend to trash talk capitalism and then have the nerve to cry about the reality of socialism

Amazing level of economic ignorance in the comments. Here’s a little pertinent information: The great majority of tax rates are applied to net profit not gross receipts.

If the government can print money nobody should pay tax not even the squeezed middling sorts like me. It should proportional for all.

George Harrison bought the stately Friar Park for just 140,000 pounds just before the Beatles broke up.

Curious to know what the tax brackets/rates in the UK were in the 60s and early 70s.

Taxes are STILL high in England..... It's an island...with very little industry....no wonder why us Americans had to bail their asses out during WWII. Nothing personal...just saying.

Why businesses leave countries taking jobs with them.

93 or a 98% tax rate! That's absolute insanity. Get me on the next plane to Monaco! Morning coffee and croissant by the Mediterranean Sea thank you very much! Take my Ferrari to Nice for lunch in the old city. Now that's the life! Put out my next album on my newly created record label called Tax Free Baby!

These ridiculous taxes should be given back.

What a fantastic video have a wonderful day ❤❤❤❤❤❤😊😊😊😊😊😊

slades noddy holder says they paid 90% tax in england in the early 70,s heydays

Now Everyone pays 20% VAT instead

Thanks

If the SNP are in power much longer it will end up similar in Scotland.

very depressing

So sad they worked there ass off.

Of course it was Maggie Thather that was smart enough to fix that mess.

Nobody is forced into Tex exile. People decide to avoid Tax by moving into low tax jurisdictions

Heath HATED rock and roll. How dare the proletariat become rich?

Taxes? But I spent all my money on cocaine and Rolls Royces! So very expensive. You poors wouldn't understand. Time to move to monaco.

What were Beatles total lifetime earnings, pre tax, I wonder… 💰

Throughout all of history the tax rate was around 10%….

Corporate fraud...

I don't hear about industrialists and old money leaving. It was aimed straight at poor people who had "made good" with a "windfall." Typical British attitude.

the tax man 😢 not good when you're a rock star 🌟 even managers that do the dirty tricks 😂and take off 📴 with the money 💵

OMG, ninety percent tax! That's simply obscene! I'm stunned.

👍🤪

I mean given a chance along with a reason to escape.. Why would anyone Stay in Great Briton as a whole; and especially England?? If I were a member of any of those bands? I wouldn't have returned after the first tour. (This notion still applies to these days) Ringo was always considered the lesser Beatle.. As it turns out he is smarter than the other 3 fools. and the first to figure out that "Lizzy and Phil" were bending them over with tax.