The ‘Corbygeddon’ effect

22 Aug 2019

The increasing number of reports that the UK is about to experience a mass exodus of the super-rich, or at least of their wealth, recently led to the Sunday Times coining the rather alarming term “Corbygeddon”.

Numerous private client law firms have confirmed a marked upsurge in high-net-worth clients seeking expert advice in relation to moving their money overseas in anticipation of a Labour government implementing its proposed tax increases, which will be applicable only to “the top five per cent”.

The Sunday Times Rich List 2019 investigation found there was a possibility of up to £1tn in assets and businesses being relocated abroad if Jeremy Corbyn made it into 10 Downing Street, leading the ...

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