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Rachel Reeves is considering a 20% tax on assets of people deciding to leave UK. Rich people quitting the UK could be required to pay a 20% tax on their business assets as part of plans reportedly being considered by the Labour Party Chancellor.

The Treasury has drawn up plans for a “settling-up charge” on assets; a move that would bring the UK into line with most other G7 nations and raise a predicted £2bn for the public coffers, according to the Times.

Under the new plans, the 20% charge would be levied on the value of these assets when exiting the country. In not already having such a tax on the books, the UK was “something of an outlier”, an expert told the Times.

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James Smith, the research direc

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