… To be considering leaving the UK?

[globalnomad25]

We have been considering leaving, even if only for a few years. Many of our clients have already gone or are planning it, and some of our friends too.

I’m not sure where we’d go: UAE, Portugal, Jersey, Ireland, Canada, Australia? We don’t currently want to move to the US, even though that would probably make the most sense from a business/client point of view.

For those out there who have already left, how has it gone? Was it a horrible mistake or are you glad you did it?

For those also thinking about it, where would you go?

Kids are school-aged and smart and used to international travel as our work already takes us all over, although they’d miss their friends (as would we). We aren’t English so our family is already based all over the place, although we visit them frequently.

Who is going to invest in long term gilts if the long term trajectory of the pound is down against other currencies? The interest rate paid does not make up for the fall in the value of the currency. Labour needs to rebrand as party of workers, not shirkers and be able and willing to make the tough decisions. They tried and their own party went against them.

Yes I agree with you there. Starmer’s answers are too tied up with jeering to consider a direct reply.

Hence the markets reacting last week.

Gilt yields are there or there abouts steady, similar to where they have been, on average, on par with what they have been for the last 3 years.

"A financially savvy PM would steady the markets immediately" cheap talk, do you really think ruling out a wealth tax, which can take many forms, such as the IFS suggested, is not going to achieve anything.

Funnily enough yields down slightly.

This junior doctor strike is also a joke. They won’t get any public support. The NHS has already been allocated more than anything else. I think we will now see what Wes Streeting is made of, whether he has the balls required to lead in the future.

FTSE up substantially today, yields down too, even holding its own against the $

4 interest rate cuts.

Lets ring up the IMF, clearly the UK is an economic basket case.

Keep minimising, it would not be on the front page of the FT yesterday if it were not a problem!

Look there is a turning point in markets when people panic and start pulling their money out, en masse. Clearly the OBR and IFS are worried.

“The OBR found that because of inflation and earnings volatility, the triple lock was on track to cost about three times more than initial expectations by 2029-30. “

UK pension funds sell out of gilts if they are too volatile. When Reeves cried, investors were worried she might be getting the sack. They see her and Starmer and Streeting as the moderates I think? They saw the backtracking forced by the left in the party as weak and costing us. The left need to get a lid on it if they care about the country. Ideology is too expensive, we cannot afford it right now. All the experts are saying the same thing. Time to listen.

I think it’s just playing out in slow motion.

No minimising, i just dont go around looking for everything that is wrong, which is what you and others do.

Imagine the outrage in the UK of Labour dropped the triple lock? howls of indignation and calls for a u-turn.

Nothing Labour can do is any good, its all wrong and all going to the dogs - according to you.

I am going to bring up Credit Suisse insolvency again - basically the Swiss Government got in a room overnight and just forced the hands of UBS in a mere few hours, when the whole country facing a major shock as a result of it, potentially.
Looking at the Swiss economy now, they are thriving again, the Swiss franc against the pound is stronger than ever. That is what good governance of a country looks like in tough times. Not the shenanigans we get here. Something has to change. We need real leadership and those in charge should never be undermined by their own party!!! Why do we keep getting this!

“Imagine the outrage in the UK of Labour dropped the triple lock? howls of indignation and calls for a u-turn.”

@Absolutely45 - you are completely missing the point.
Strong leadership leads strongly and does not give into howls!
This country has everyone howling constantly. I say ignore it all and carry on and do what is best for the country and the people as a whole, long term. But those in your own party need to be on your side! That is a basic.

Well, yes, the Swiss have a great trade and co-operation deal with the EU.

I'd certainly like to see the UK join the CU and SM.

But comparing the UK with debt to GDP ratio of 97% to one with just 37% is not the best one either.

Which Govt took debt in 2010 of 65% in 2010 to 98% in 2024 ? whilst trashing public services and giving us almost no economic growth?

clue: it wasn't Labour.

Up to a point yes but then that party may will leave office.

Its a balance, personally i wouldn't change TL but i would change CGT, the IFS made some excellent points on this.

I also think that Labour need to be honest and say the NI cuts by Hunt were done to harm Labour/the UK and there will need to be some reversal, combine with with changes that effect the most wealthy on assets/gains.

The NI savings will be ring fenced for health and education, to sugar the pill.

Many countries set up specific tax invantages to bring these people in. I've started the visa myself and it's been very simple. I'm also an American, someone everyone appears to hate currently, can't blame them, and no issues.

Haven't left yet but we have pulled out of our house sale right before exchange, just didn't feel right and are now using our housing deposit to move abroad. I'm also getting my employment contract set up and hopefully get a visa appt in a month or so. All moving along quite well. I've also lived in the US , UAE, singapore and uk so have some experience and understand the process.

Portugal isn't phasing them out they are just changing them slightly. We are moving on a d8 visa and will then apply for nhr 2.0 which is 10 years flat 20 PC rate. Yes please!

Portugal could be good, depending on what kind of business you set up and a lot if tax incentives. Don't know about kids or schools though, that's not a priority for us.

Isn’t this largely going to depend on which countries let you in? Unless you’re extremely wealthy, you don’t have an unfettered right to just up sticks and live where you want.

In my experience if your job/trade/profession/experience is highly sought after you more or less do have an unfettered right to move anywhere. Your visas are usually expedited, you may well be given a signing on/up bonus, special tax rights for the first year in some exceptional cases. One I am seeing more is the offer of a shortcut to permanent residency as not only are you welcome in but you are deemed welcome to stay long term.
I still love and value the UK, but it is totally naive to believe it is offering a comparatively good/fair deal to higher earners. In most other Countries the tax burden is generally more evenly distributed across the entire population and crucially there is not a disparaging attitude towards people who want to make money and keep some of it.
So many wealthy people have already left and taken their taxes and potential spending power with them that there is already an impact so the good riddance attitude is ridiculous and so counterproductive to economic stability.
The UK tries itself to incentivise certain types of individuals in. Friends of ours came to the UK for a look because of incentivised residency offers, subsidised factory rentals and tax exemptions for setting up a business they already have running in two Countries but they ultimately decided they could not make it work financially in the UK plus the crime rates and lack of detection/deterrents were very off putting for them too.
The UK is not appealing to high net worth individuals right now and like it or not that is a problem. More and more high tax payers will leave for a better standard of living and that will be to the detriment of the Country.

This!
I have moments where I would
like to move out of the UK, fancied the idea of Jersey lately, but 10 years or so the climate will be unbearable in warmer European countries.

I have just spent a week in East Devon and the village we stayed in was so beautiful and blissfully quiet, I want to explore more of this beautiful Island - the amazing weather has helped though!

I meant the favourable tax rates for HNWI not the visas themselves. Enjoy Portugal

I'm from Spain originally. I am currently spending a few weeks in here. This is equally fucked.

We have thought very long and hard about moving overseas. Portugal has been the hot favourite destination. We could move there on a D7 visa, and would qualify financially. I am quick with languages and would pick up enough Portuguese to get by fairly fast. However, DH has heart health issues, and the high summer heat would not be my choice. Yes, we'd swap houses in the high summer months with my niece so they had a holiday, but the more I think about it, the less I want to deal with acute health issues in another language. I would move to France, because my French is decent already, but there's no good reason to go. On balance, I think we'll probably stay put.

Nice to know we are not alone