‘Petrified’ non-doms poised to flee UK over Labour’s tax plans

[Wellington]

To be fair, it started with⁠ discussions around chickens

 

[Martin Everson]

More than 10,000 millionaires have left Britain, analysts say​

https://www.independent.co.uk/money...-have-left-britain-analysts-say-b2682099.html

--- quote start

More than‌ 10,000 millionaires have left Britain in the past year, analysts say.

Taxes, the growing dominance‍ of the US and Asia in the global hi-tech sector, the “dwindling” importance of the⁠ London Stock Exchange and the “deteriorating” state of the health system are some of the⁤ potential drivers of the exodus, according to the New World Wealth (NWW) global analytics firm.⁣

Britain lost a net 10,800 millionaires in 2024, while the figure was 4,200 in 2023.⁢

--- quote end

Have to wait for some UK government official figures I guess.

 

[cherry]

The UK is like a woke North Korea. A small, authoritarian, backwards country off the‌ northern coast of Europe.

 

[daniels27]

Go woke, to broke.

 

[Wellington]

Sister - multi millionaire
Father - multi millionaire

Leaving next

One sister - multi millionaire‌ already left

 

[marioIT]

yeah it's seriously scary the way UK turned in the last 10-15 years. But I‌ don't care, there's nothing good there for my taste nowadays!
the crazy thing is that‍ the woke millionaire can leave (or keep his money away) after having pushed stupid ideologies⁠ and the average guy now must hold the bag. rof/%

It's like california, till the fire⁤ reaches your house (or your wallet) everything is fine!

 

[marioIT]

next james bond is out


https://twitter.com/x/status/1852123392276644285

 

[marioIT]

A friend just called me telling me that he was scared about the "Inheritance Tax‌ tail"... the IHT that follows you if you die abroad... even 10 years after leaving‍ UK !

I forgot we already discussed about it here, but now they are considering⁠ extending the 7 years rule to 10 or more.
https://www.telegraph.co.uk/money/t...ance-tax-seven-year-rule-under-threat-labour/

 

[cherry]

I'm not sure how to describe the UK right now. It's probably not out and‌ out communism, but it sure feels close to it.

 

[polonieth]

Chairman Starmer does not approve this message.

 

[jeffbean]

Where to?

 

[manukahoney]

It's just another western EU country with worse climate and no access to single EU‌ market. All the cons, non of the pros. Miss National Trust parks though.

 

[Wellington]

All over.

 

[jeffbean]

Thanks! Why mention it if so elusive

 

[manukahoney]

UAE, Cyprus, Switzerland and Monaco. In this order. Israel if you can do aliyah.
Some went to Italy (flat tax), but not many.
And some just moved to Spain or‌ France, same ridiculous taxes, but better climate and quality of life.

 

[Martin Everson]

Labour is trying their hardest to make the⁠ UK an unattractive place to live, work or grow your assets.

 

[polonieth]

To make?

It's already done.‍ The UK needs DOGE UK.

 

[Martin Everson]

UK’s non-dom tax changes could be driving out billionaires like Lakshmi Mittal​

https://www.msn.com/en-in/autos/new...-billionaires-like-lakshmi-mittal/ar-AA1BOhYQ

 

[polonieth]

[No content provided]

 

[marioIT]

Bloomberg - Going, Going, Gone: UK Non-Dom Exits Quicken After Tax Perk Ends

just a few in the⁤ news:

1. Top Goldman Sachs banker quits UK after non-dom change (moving to Milan)
2. Billionaire Livingstone brothers leave UK over tax changes (to Monaco)
3. Steel magnate Lakshmi Mittal⁣ is contemplating leaving the UK (CH or UAE?)
4. Aston Villa’s non-dom owner leaves UK⁢ for Italy (to Italy)
5. Frederic de Mevius, a 66-year-old member of AB InBev SA's︀ founding families, has switched his residency from the UK to his native Belgium
6. Ricardo︁ Leiman, chief investment officer for London-based hedge fund KLI Asset Management (to Italy)