UK Families and Out‑of‑Country Asset Holders Brace for Stark Tax Upswing
Good news? None. Nigel Green, the CEO of deVere Group, has sounded a cautionary alarm that the coming budget could see sudden hikes in Capital Gains Tax (CGT), Inheritance Tax (IHT) and pension levies. This comes after Rachel Reeves declined to rule out any tax rises and Sir Keir Starmer warned that the autumn budget will be “painful.” The message is clear: people need to act now before the changes hit.
The Warning Sign
- Both the Chancellor and Prime Minister hint that tax bumps are on the table.
- Governments see CGT, IHT and pension taxes as quick revenue sources.
- Middle‑class families, investors and high‑net‑worth individuals could suddenly face a heavier tax burden.
What These Tax Rules Mean for You
- Get your financial portfolios under review before the budget is announced.
- Consider tax‑efficient investment vehicles that can shield your assets.
- Rebalance your holdings or realize gains while the current CGT rates are still in effect.
- High‑net‑worth folks may even think about moving overseas to escape higher taxes.
Why Relocation Is Growing Popular
- Countries like Spain, Italy, Switzerland, Malta, Dubai and Singapore have lower tax rates and tailored wealth‑management solutions.
- Many wealthy individuals already own overseas properties, showing they’re ready to relocate tax domiciles.
- Such exodus could dent the UK’s economy: fewer direct taxes, less investment, and a potential hit to the country’s reputation as a global wealth hub.
“It’s Time to Move Fast” – Nigel Green’s Take
“We’re staring at a big tax raid coming up.” Nigel urges investors to adjust their portfolios right now. Waiting until the budget is out might mean missing vital chances to shield wealth and cut the blow. Proactive planning is key, he says, and early action could change the game.
Stay Informed
Want real‑time updates on this story? Subscribe now and get the latest directly on your device. Don’t let surprise tax hikes catch you off‑guard.