Labour's inheritance tax plans may lead wealthy individuals to leave UK, warn private banks.
Labour's inheritance tax plans could lead some super-rich individuals to leave the UK, warn private banks and advisors. Keir Starmer's Labour Party aims to increase tax on future generations' inheritance of offshore wealth, targeting the country's wealthiest to fund public spending initiatives. This comes as around 70,000 people already face higher tax bills due to the Conservative government's plans to phase out the "non-dom" status.
June 14, 2024
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