A top UK tax and immigration advisor, David Lesperance, helps high-net-worth individuals manage their money. However, the looming Labour tax hikes resulted in eight of his super-wealthy clients approaching him for help leaving the UK. Lesperance reportedly said the potential increases to capital gains, inheritance tax rates, and a new "exit levy" for wealthy people leaving Britain are causing concerns for the country's leading taxpayers.
Lesperance's outlook comes after estimates emerged recently that the nation could lose one-fifth of its millionaires under the Labour government. An exodus of such scale raises risks of substantial budgetary shortfalls, given that the country receives a large chunk of its tax revenue from a handful of wealthy people. Lesperance's clients, who he is helping to leave the UK, are some of the top taxpayers in the nation.
