{"id":272967,"date":"2025-11-20T05:32:12","date_gmt":"2025-11-20T05:32:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/272967\/"},"modified":"2025-11-20T05:32:12","modified_gmt":"2025-11-20T05:32:12","slug":"pios-among-the-wealthy-fleeing-uk-for-lower-tax-countries","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/272967\/","title":{"rendered":"PIOs among the wealthy fleeing UK for lower tax countries"},"content":{"rendered":"<p> <img src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/11\/representative-image.jpg\" alt=\"PIOs among the wealthy fleeing UK for lower tax countries\" decoding=\"async\" fetchpriority=\"high\"\/> TOI correspondent from London: British Indians are part of the wealth flight from Britain due to rising taxes, poor public services and concerns about further taxes in the autumn budget.India-born Herman Narula, co-founder of \u00a32.5 billion tech company Improbable, is among the latest to abandon Britain for Dubai. He told the Daily Telegraph that he was leaving because of the constant drip feed of leaks about tax policies ahead of the Budget \u2014 including a possible exit tax \u2014 which meant it was \u201ctoo unstable and too risky to maintain residency\u201d. Whilst the exit tax seems to have now been dropped, Narula told The National on Wednesday that he still plans to leave as he has no confidence \u201cat all\u201d in Keir Starmer\u2019s govt.\u201cIt\u2019s less about the exit tax and more about not knowing what the next five budgets are going to hold and what random things are going to be placed inside them. I think in that context, I would rather pursue opportunities elsewhere until the situation improves,\u201d he said.The 37-year-old joins a growing list of wealthy people to leave Britain, which includes former England footballer Rio Ferdinand and billionaire Nik Storonsky, co-founder of Revolut, who have both left London for Dubai. Ferdinand blamed high taxes and crumbling public services.British Indian billionaire Surinder Arora, chairman of the Arora Group, which owns Luton Hoo Hotel, Golf &amp; Spa where Indian PM Narendra Modi recently stayed, is among prominent entrepreneurs, alongside India-born Ajaz Ahmed, founder of AKQA and Studio.One, to have signed an open letter to Chancellor Rachel Reeves, which states: \u201cThere is alarming evidence that some entrepreneurs are leaving the UK. Furthermore, last year\u2019s Budget measures, including changes to capital gains tax, entrepreneur&#8217;s relief, and employer national insurance, have increased costs for many entrepreneurs. As the govt prepares for this year\u2019s Budget, it must carefully consider the cumulative impact of these policies. We need to empower the energy and dynamism of entrepreneurs, not stifle or constrain them.\u201dGanapati Bhat, an IT consultant, originally from Bengaluru, who came to work in the UK in 2007 on a highly skilled migrant programme, is among those considering returning to India. \u201cWhen I came here there were good prospects and opportunities. Now I am not seeing any return on the high taxes I pay. I am not seeing improvements to the NHS, economic growth or investment in infrastructure,\u201d Bhat said. He said several of his PIO friends, who had lived in the UK for years, like him, had already returned to India.<\/p>\n","protected":false},"excerpt":{"rendered":"TOI correspondent from London: British Indians are part of the wealth flight from Britain due to rising taxes,&hellip;\n","protected":false},"author":2,"featured_media":272968,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[112172,84,1294,112170,112173,56,112171,54,55,112169],"class_list":{"0":"post-272967","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-british-indians-tax-concerns","9":"tag-business","10":"tag-economy","11":"tag-herman-narula-dubai","12":"tag-impact-of-uk-budget-on-entrepreneurs","13":"tag-uk","14":"tag-uk-rising-taxes","15":"tag-united-kingdom","16":"tag-unitedkingdom","17":"tag-wealth-flight-from-uk"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/272967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=272967"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/272967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/272968"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=272967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=272967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=272967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}