Tax
Top UK Tax Lawyer Tells Rich Clients to Leave UK

Traditional tax planning in the UK has become redundant because tax laws are now so unpredictable that people cannot arrange their affairs with any degree of certainty, warns Caroline Garnham, a partner at London law firm Lawrence Graham. "The only advice for some clients is to move abroad," Ms Garnham told The Business. "British tax laws change so frequently and with little warning, that what we have at the moment is paralysing the wealthy." The UK government, she said, is torn between a desire to protect the City as a revenue-generator and political calls to increase taxes on non-domiciled bosses at City firms such as private equity houses. And this is beginning to make the UK less attractive to high net worth individuals. "These people will vote with their feet - people are already leaving the country and going to Switzerland. It is going from a trickle to a flood," said Ms Garnham.