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Brits 'must examine international taxation regimes carefully'
Brits moving their money abroad to take advantage of more favourable international taxation should be careful to avoid being hit by a higher rate, it has been claimed.
Speaking to the Independent, managing director of Panthera International Pension Solutions Bethell Codrington warned that Brits need to carefully consider personal tax planning abroad.
He told the newspaper: "You have got to be careful that you don't end up in a tax jurisdiction which has a higher rate of income tax than the UK.
"You need to assess the tax system because it won't necessarily be better."
In the UK, the changing tax system is becoming a growing concern for groups such as the Chartered Institute of Taxation (CIOT).
Just last week, the organisation expressed its regret at plans to introduce a new retrospective tax on manufactured dividends, which will apply from October 1st 2007.
Tax policy director at CIOT John Whiting claimed that the proposals were "inherently unfair".
Posted by Susie Cho
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