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🇬🇧 United Kingdom /Economy & Trade

UK’s Third-Biggest Taxpayer Plans to Move to Greece

From BBC News · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Hedge-fund billionaire Chris Rokos, who paid £330 million in UK tax last year, plans to move to Greece and open an office in Athens, the BBC reported.
  • Greece allows qualifying foreign residents to pay a flat annual tax of €100,000 on overseas income, a regime viewed as attractive to wealthy individuals.
  • Rokos’s reported decision comes before Chancellor John Healey’s first Budget, amid pressure on public finances and uncertainty over possible tax increases.

Chris Rokos, one of Britain’s richest taxpayers, has decided to leave the UK for Greece, the BBC understands. Reports say the hedge-fund billionaire plans to open an office in Athens.

The UK remains an attractive destination for talent and investment.

· UK government spokespersonThe government responded to reports that Chris Rokos plans to move to Greece.

Rokos ranked third on The Sunday Times’ list of Britain’s top taxpayers after paying £330 million last year. In March, he said he would donate £190 million to Cambridge University. His representatives declined to comment on the reported move.

Greece’s tax rules are considered attractive to the ultra-wealthy. Foreigners who meet certain conditions can pay a flat annual tax of €100,000 on all overseas income. The article does not identify the reason for Rokos’s decision, which Bloomberg first reported.

The chancellor has made wealth creation one of his top priorities.

· UK government spokespersonThe spokesperson described the government’s economic priorities.

A UK government spokesperson said Britain remained an attractive destination for talent and investment. The spokesperson cited the country’s “competitive and stable tax system, deep capital markets, world-class universities and a highly skilled workforce,” and said Chancellor John Healey had made wealth creation a top priority.

Competitive and stable tax system, deep capital markets, world-class universities and a highly skilled workforce.

· UK government spokespersonThe spokesperson listed factors the government says make the UK attractive.

The move comes ahead of Healey’s first Budget on 28 October. In a BBC interview, he did not rule out tax increases, as higher government borrowing costs add pressure to public finances. He said only that he would “balance the books” and “control public spending.”

Balance the books

· John HealeyThe chancellor described his approach ahead of the upcoming Budget.
About this summary

Originally published by BBC News in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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