Autumn Budget: Wealth tax would drive £100bn out of UK economy October 16, 2025 Rachel Reeves is facing renewed calls to rule out any form of wealth tax in the Autumn Budget with concerns such a move would drive £100bn out of the UK economy. The Chancellor confirmed on Wednesday higher taxes on the nation’s wealthiest would be a “part of the story” in the Budget. But fresh research [...]
Revolut boss abandons UK residency in favour of UAE October 7, 2025 The boss of London-born fintech juggernaut Revolut has abandoned his main residency in the UK in favour of the United Arab Emirates. Nik Storonsky’s updated residency was posted in fresh Companies House filings on the fintech chief’s family company on Tuesday. The move comes mere weeks after Revolut pumped £3bn into the UK as it [...]
Lloyds looks to take control of Schroders wealth tie-up October 2, 2025 Lloyds Banking Group is looking to ditch its wealth tie-up with Schroders and take control of the six-year old unit. The FTSE 100 titan is poised to buy out Schroders’ 49.9 per cent stake in Schroders Personal Wealth (SPW). The transaction would hand full control over to Lloyds as the bank sets out to expand [...]
HSBC UK beefs up wealth arm with ‘generational’ bet September 26, 2025 HSBC UK is making a “generational” play to beef up its wealth arm as the banking juggernaut eyes global dominance in the field. The FTSE 100 titan will launch a new Wealth Academy this autumn, the bank’s managing director of wealth Christopher Dean told City AM, in partnership with the London Business School. The bank’s [...]
Entrepreneur slams No 10 wealth grab – despite getting taxpayer-backed loan August 6, 2025 The founder of a hot tub and plunge pool business has said he understood why “the masses” were leaving Britain and was accelerating plans to do so himself, despite his firm recently receiving a taxpayer-funded loan to fuel its international expansion. Rob Carlin, who runs Derbyshire-based spa company Superior Wellness, blamed a succession of punitive [...]
Wealth exodus ramps up as bosses quit UK August 6, 2025 A wave of company directors have left the UK since the government unveiled a host of punitive tax rises on the wealthy at its maiden Budget last autumn, exacerbating fears that a wealth exodus of Britain’s most affluent residents is afoot. According to an analysis of Companies House data, 3,790 company directors removed Britain as [...]
Reeves’ non-dom crackdown is unwittingly driving rich Brits away too August 4, 2025 The hordes of wealthy foreigners leaving Britain to escape the government’s non-dom crackdown are being joined by high-net-worth Brits capitalising on an arcane element of the policy that has made it easier for them to avoid paying inheritance tax (IHT). Several wealth advisers and tax lawyers have reported a “second wave of interest” from middle-aged [...]
Brain drain latest: Number of Brits choosing to move abroad doubles August 1, 2025 The rate at which UK taxpayers are moving abroad has more than doubled in the past three years, according to official data which experts warned could be understating the true speed of departures. The average number of P85 forms submitted to HMRC per month rose from 2,500 in 2022 to as much as 5,150 per [...]
Week in Business: Is it time to leave the country? July 31, 2025 Facing low growth and high taxes, more and more of my friends are having the same conversation, for the same reasons.
Non-dom tax take jumped to £12bn before Labour crackdown July 17, 2025 The overall tax take from wealthy foreigners who once claimed the now obsolete non-dom status rose to £12bn the year before Labour and the Conservatives announced their respective crackdowns against the regime. Data from HMRC released on Thursday showed the amount of capital gains tax, income tax and national insurance contributions paid by the cohort [...]