Politics · 1 November 2025
UK plans new tax on rich leaving country
Chancellor Rachel Reeves is reportedly considering a 20% tax on assets of wealthy individuals leaving the UK, known as a 'settling-up charge', predicted to raise £2bn and follow policies already in place among most G7 countries. This comes as Britain faces an unprecedented wealth exodus with 16,500 millionaires expected to leave in 2025, taking £66bn in investable assets abroad, driven by changes to the non-dom tax regime.
Reported by Guardian · How we write briefs