Big UK Tax Shift: 42% of Finance Folks Want to Move Out of the UK
After Rachel Reeves blew through Parliament with her Budget last October, a brand‑new survey from deVere Group shows a sharp turn in mindset among the nation’s money‑holders.
Why the Buzz?
When you throw in higher capital gains tax, new inheritance rules that hit pensions, the wipe‑out of the non‑domiciled status, and a bump in National Insurance Contributions, even the most conservative families start googling “how to get my money out of the UK”. The data? A staggering 42% of people who own or are tied to UK assets are actively planning to move their wealth elsewhere.
What the Survey Says
- Timing: Conducted a week before Christmas, covering 600 participants around the globe.
- Method: Independent insights from one of the world’s top asset‑management firms.
- Key Takeaway: The new tax measures are shaking up the financial community.
Key Tax Changes Causing the Shake
- Higher Capital Gains Tax.
- Inheritance Tax tweaks affecting pensions.
- Rejection of the non‑domiciled tax status.
- Increased National Insurance Contributions.
What Happens If You Stay?
If you decide to keep your money in UK, be ready for more taxes to come knocking—possible bon‑bon in your pocket.
Ready to Pack?
With the numbers telling a clear story, investors are already showing horizon for foreign tax havens. If you’re on the fence, you might want to talk to a professional about moving assets. It’s not just about money; it’s about giving your portfolio a leg up and keeping those taxes at bay.
Stay tuned for more updates on the shifting landscape.
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Voter Views 2025: A Raging Buzz, a Bit Like a Tea‑Party
- Over 60% of respondents think Labour’s promises are all talk and no action.
- Only 3% trust any Labour leader to keep their wig in place.
- About 30% trust Dr. John Smith, the senior cabinet member, but only if he can stop the party from being “dishonest and incompetent.”
The Timing – The Big Questions – The Front‑Page Break
- Why is this hitting the political radar now? Because, frankly, everyone’s on the edge of stepping away from old politics and stepping into new territory.
- How deep is the relationship between the UK and its high‑net worth citizens? The question is no longer “does the UK deserve them?” it’s “does the UK give them something worth staying in?”
- Will we see a new election in Britain? The big “yes” is already on the cards.
Financial Shifts: People Moving Their Wealth Abroad
According to the CEO of deVere Group, Nigel Green, the budget’s moves are like throwing a wrench into a well‑oiled machine, especially for those on the financial edge.
- Italy, Switzerland, Dubai, Portugal and Malaysia: These destinations are now the hottest spots for those looking to keep their money safe.
- Why move? The new tax rules, especially the dropped “non‑domiciled” status, are seen as a direct threat to wealth preservation.
- What’s happening? deVere sees a spike in people asking about residency or moving assets abroad.
Budget Moves That Bite: What’s Changing?
The new budget’s adjustments are a catalyst for people to rethink their long‑term plans.
- Capital gains tax (CGT) and inheritance tax: These are being raised to a level that may scare investors and put force on families planning generational wealth transfer.
- Employer National Insurance Contributions (NIC): Bigger NIC rates are stretching payroll budgets, forcing many businesses to lean toward automation instead of hiring.
- Overall, the shift feels more like an “immediate fiscal win” than a long‑term boost for the economy.
Protect Your Wealth – Actions That Matter
Financial experts are recommending a proactive set of moves to stay ahead of the tax curve.
- Rebalance your investment portfolio to align with new tax realities.
- Use tax‑efficient vehicles that shelter growth.
- Plan inheritance early, ensuring a smooth transfer of assets to heirs.
Why It Matters – The Bigger Picture
High‑net‑worth individuals have historically been the backbone of the UK’s business scene, weaving jobs, tax revenue and stability into the whole tapestry. As the budget lifts the barriers, we could see the best talent and cash dip into less hostile territories. Nigel Green warns: “This is not just about taxes—it’s about sending a message as loud as the planks of an old train: ‘You’re not welcome here.’”
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