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    Rachel Reeves considers 20% tax on assets of people deciding to leave UK
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    Rachel Reeves considers 20% tax on assets of people deciding to leave UK


    Rachel Reeves considers 20% tax on assets of people deciding to leave UK

    https://www.theguardian.com/politics/2025/nov/01/rachel-reeves-considers-20-tax-on-assets-of-people-deciding-to-leave-uk?CMP=Share_iOSApp_Other

    Posted by topotaul

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    41 Comments

    1. PreparationNorth2426 on

      Getting kinda bored of every budget steadily increasingly taxes in all sorts of creative and annoying ways.

    2. HonHon2112 on

      Labour over-gauges police’s on social media to see if it’s popular or not. Yes, tax the wealth. Do it. Just dont tax workers like promised.

    3. OkAsparagus839 on

      “The Treasury has drawn up plans for a “settling-up charge” on assets; a move that would bring the UK into line with most other G7 nations and raise a predicted £2bn for the public coffers, according to the Times.”

      No problem with this. Maybe go further than 20%

    6. stulogic on

      It’s just a barrage of reaction testing doom leaks to the media before the actual rogering happens. Foreplay if you will.

      Maybe it’ll soften the blow of the actual rogering, who knows.

    7. xmBQWugdxjaA on

      The issue is this can force you to realise gains in order to pay the tax. Germany has similar problems with this, where it mostly hurts small business owners.

    8. doobiedave on

      Borrowing against assets above a certain level should be taxed as income. If you’re a multi-millionaire and you live off the money you borrow against assets, the amount borrowed should be taxed as income.

      Plus also concentrate turning VAT back into an actual luxury tax.

    11. IgnorantLobster on

      Wouldn’t that stop people and businesses coming to the country? Knowing you have to pay up to leave again?

    12. Affectionate_Role849 on

      There’s not a huge amount left to squeeze in taxes, you cannot just raise a tax and not account for the change in behaviour. The data around the last change to Capital Gains allowance has shown this (tax free allowance went down -> government revenue from CGT went down).

      Speaking of CGT and as an example, the government raised £4 billion in 2012 from CGT, compared with £17 billion in 2022. The notion that there’s not enough tax revenue is just not true, a lack of smart leadership to spend it, is.

      A 20% exit tax is a shot in the foot. Why on earth would you set up a business in the UK or invest in the UK knowing you’re going to be hit 20% on the way out when there are numerous better countries that don’t? You may get some tax revenue for a few years, but it will very quickly dry up.

      I don’t know why “reduce spending on pensions, welfare, asylum, etc” is never an option? The government has plenty of revenue, the population aren’t undertaxed, the government is just incapable of spending it properly.

    13. IgnorantLobster on

      Wouldn’t that stop people and businesses coming to the country? Knowing you have to pay up to leave again?

    15. fish-and-cushion on

      Make it 100% and the tax paperwork is just that image of Mr Burns saying”Don’t forget you’re here forever”

    16. TakeWallStreetdown on

      Judge a country by how it put up walls to keep their countrymen in and stop them escaping

    17. quarky_uk on

      I always associated an “exit tax” with the Nazi’s doing this to the Jews before WW2. I didn’t realise other countries did something similar now. I am surprised.

      I am not automatically against it though, but it doesn’t really seem a British thing to do..

    18. SapereAude_89 on

      If they do this it needs to be implemented ASAP so lots of wealthy don’t make plans to leave between announcement and practice. Feels a bit ignorant to ask – but don’t some measures need to go via Parliament first though?

    20. beeds on

      A good idea and also – we need to raise revenue somehow.

      The sooner they just increase income tax the better.

    22. JGG5 on

      Only 20%? For billionaires (not regular people moving overseas for work or whatnot) it should be 100%. You can leave if you’re trying to avoid tax, but you can’t take a single UK asset you own with you.

    23. Solidus27 on

      This inspires negative confidence in this government and the future of this country.
      Jesus wept

    24. Ill_Temporary_9509 on

      Good. It’s about time a government actually did something about these “If you tax us, we’ll leave the country” threats by people who’ve been hoarding wealth and avoiding paying their fair share

    25. jodrellbank_pants on

      They will just not own anything. And get a loan and give her the finger as they walk by her window

    26. Samh234 on

      Could someone who knows about economics or not tell me if this is a good thing?

      I fear I have been tempted too much towards the ideas of Henry George (Blame Rory Sutherland) and I don’t know enough about any of this stuff to decide whether it’s right or not.

    27. PerceptionGreat2439 on

      I applaud any attempt that increases tax on the wealthy.

      Tax law is very complicated and pursuing people moving their wealth abroad is worth some effort.

      We also need to work much harder at large companies avoiding tax by registering in different countries but operating profitably here.

    30. tripping_yarns on

      It seems that most people don’t understand this or are just going off about the clickbait headline.

      You do not pay CGT on your home. You do pay CGT on second homes and investments, but you are taxed on the gains, not the total worth.

      This revision closes a loophole whereby someone could take up domicile in another country and dispose of business assets without paying tax. On the gains.

      It’s not a major new sweeping tax, it just brings our tax system inline with other G7 nations.

    31. somnamna2516 on

      Looks like remitly and transferwise into Siam commercial and krungsri will be being maxed out for me and my Thai missus if Rachel from complaints brings this out. Most people planning to emigrate aren’t wealthy millionaires trying to avoid taxes

    33. thecrius on

      I’m all for this one but yet again, nothing is being done to protect tenants.

      The people abroad that rent (some specifically but from abroad to rent) will simply raise the rent for those who live here.

    34. phild1979 on

      Again nothing but short term thinking from labour. While 20% might raise a bit from the odd millionaire who hasn’t already left the UK in the end it will do nothing to make a dent in the long term shortfall she is creating. Remember the government generates nothing having it’s coffers filled they are purely reliant on the private sector.

    38. kassiusx on

      Reading all these comments and I just think Capital by Thomas Picketty should become essential reading for many.

    39. Fresh-Army-6737 on

      This seems kinda silly. Just make it so they have to pay the taxes that are currently there. Why do they have to immediately realise the gains? 

    41. LyingFacts on

      Good. Everything from the benefits cuts to the disabled to the high taxes to the middle class is explored to raise money yet those that use our citizens as customers, employees and land hold us hostage whilst they make billions. Joke!

      About time.