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From: Denc 🗡
Fortunately few of them can come here… Britain’s wealthy flee to Italy and Greece ahead of April tax raid Families pull out all the stops to escape Labour’s triple hit Wealthy families desperate to avoid high taxes are rushing to move to Italy and Greece before the end of the financial year, according to experts. British taxpayers are fleeing to low-tax regimes abroad before April 5, to make it easier to ditch UK residency in the coming tax year. Wealth managers cited Labour’s inheritance tax raid, increases to capital gains tax, and the ending of the non-dom regime as the main drivers of the exodus. Under reforms from April, all UK resident individuals will pay tax on their worldwide income and gains, and the remittance basis, where residents only pay tax on the amount of income or gains they bring into the UK, will come to an end. Frozen income tax thresholds, which drag more people into paying higher rates, will remain frozen until 2028-29.

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