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UK’s tougher stance on billionaires and sovereign wealth ‘risks further flight of super rich’

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The National
“UK’s tougher stance on billionaires and sovereign wealth ‘risks further flight of super rich’”

The UK taxman is to get up close and personal with more than 200 billionaires it has identified with a financial footprint in the UK, as authorities show little sign of trying to lure the wealthy back to Britain . The HMRC tax authority announced in the wake of Wednesday’s budget that it is allocating a Customer Compliance Manager (CCM) to every identified billionaire as part of a crackdown intended to raise £500m. Since the summer, it has been using “enhanced wealth identification approaches”…

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