Is expatriating the solution to the growing tax net? 10 things to consider

Those considering moving to a less onerous tax environment than the UK may feel the recent Budget makes the proposition even more attractive. However, before making any big life decisions it is wise to be as prepared as possible. Our cross-border experts have compiled a handy checklist below, with 10 key steps to ensure that you do not jump the gun and make a rash decision that you may later regret.  

For the second year running chancellor Rachel Reeves significantly raised taxes in her Autumn Budget – this time to the tune of £26.1bn. While less than last year’s £31.6bn tax raid, it still amounts to a substantial sum that will push the projected tax take, as a percentage of GDP, up to 38% by 2029-30 — a record high.

But it’s not just the quantum of the tax rises seen over the last two years that catch the eye.  So too, the breadth of tax-raising measures taken – a consequence of Labour’s 2024 General Election manifesto pledge not to raise income tax, VAT or National Insurance contributions (NICs). Aside from breaking the pledge, the chancellor had little option but to raise or tinker with a whole raft of taxes.

Investments and the income from them can go down as well as up, you may not get back what you invest.

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