Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag UK tax hikes prompt wealthy individuals and business owners to consider relocating, raising concerns over lost revenue and economic impact.

flag A growing number of UK business owners and high-net-worth individuals are considering moving abroad, primarily due to rising tax rates and changes in the UK’s tax system. flag Tax residency determines liability for worldwide income and capital gains, with non-residents only taxed on UK-source income and gains from UK property. flag The Statutory Residence Test evaluates factors like days spent in the UK, work location, and personal ties to determine residency. flag For those planning to sell shares, relocating to jurisdictions with low or no capital gains tax can eliminate UK tax on such gains. flag Recent increases in capital gains tax—now 14% and 24%, with a planned rise to 18% in 2026—have led to a 134% increase in tax on a £10 million gain. flag Combined with higher corporation tax, national insurance, and reduced inheritance tax reliefs, these changes have fueled dissatisfaction. flag This trend raises concerns about lost tax revenue and a potential brain drain that could harm economic growth. flag With further tax increases expected in the 2025 Autumn Budget, the government faces pressure to balance revenue needs with competitiveness to retain talent and investment.

4 Articles