LONDON — Not long after the Labour Party swept to power last summer, Charlie Mullins, a British entrepreneur who made his millions in plumbing, packed up and left.
“Britain’s just not a good place to do business anymore,” Mullins said in an interview, during a brief stopover in a country he now calls his former home. He now splits his time between two sun-soaked destinations: Spain and Dubai
Mullins, 72, who bears a passing resemblance to Rod Stewart, is part of a number of prominent, very rich people who are eyeing the exits or threatening to do so, including because of recent tax changes, according to people who track the movements of high-wealth individuals.
But there are growing signs — met with a shrug or even relief in some quarters — that some of U.K.’s very richest residents are decamping to countries like Spain, Italy, Switzerland and the United Arab Emirates, places where taxes are lower or where the rich can pay a flat tax to shield their global income.
London has long been a magnet for the global rich. Oligarchs, leaders in exile, hedge fund managers and high-net-worth locals coexist in a city where old and new money collide. The global elite are drawn to the British capital for its legal and professional services, top schools, cultural offerings, high-end real estate and of course, for English, a global language for business.
https://www.washingtonpost.com/world/2025/05/31/rich-billionaires-london-starmer-taxes/