London bankers urged Advisers Rachel Reeves to alleviate the uninterrupted tax situation, claiming that policy pushes high -density foreign workers to move.
At a breakfast meeting in Issue 11, representatives of major financial services companies, including Blackrock, Schrooders, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley, have concerned concerns about the effect of ending the non -international system on the United Kingdom's competitiveness.
The uninterrupted situation, which allows residents in the United Kingdom on the basis of transfers instead of income all over the world, will end on April 6. REEVES provided a small privilege in January, as it gave a simplified “temporary return” providing tax rates to bring some money to the United Kingdom. However, bankers warn that the changes in the inheritance tax on existing funds, as well as the comprehensive removal of non -religious benefits, and the risks accelerate the departure of wealthy individuals.
The latest data from New World World Wealth and Investment Devisers Henley & Partners shows a net 10,800 million millions of Britain last year, a greater flow than anywhere but China. According to the report in 2024, according to the report.
Despite these statistics, Reeves did not show signs of retreat, insisting that repairs would provide a “international competitive” tax system. The budget responsibility office estimates that the move can generate 33.8 billion pounds during the next five years.
During the meeting, the industry numbers also discussed the simplification of ISA to increase local investment in UK shares. In a separate advertisement, Reeves said Britain will turn into a “T+1” settlement cycle, which is in line with major markets such as the United States. She added, “Speeding the settlement of deals makes our financial markets more efficient and competitive internationally,” she added.
The Treasury refused to comment specifically on the non -periodic debate, but it says that it is still committed to ensuring the effective work of reforms for both companies and taxpayers.