Tecoon Lakshmi Mittal plans to leave the United Kingdom after changing a non -perpetuity tax

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Lakshmi Mittal is preparing to leave the United Kingdom in response to the government’s suppression of the uninterrupted population, making it one of the richest entrepreneurs in moving due to tax reform.

The Indian businessman-who lived in the United Kingdom for three decades-told the colleagues that his possible departure in response to the decision of the work government to end the “non-Dommy” regime, allowing some UK residents to avoid paying the British tax on foreign income and gains.

“He explores his options and will make a final decision throughout this year,” said a friend of Mittal. “There is a good opportunity to stop being a resident of the UK taxes.”

Metal and his family were ranked seventh in the Sunday Times list of the richest people in Britain last year, where we are estimated at 14.9 billion pounds.

A vast chalet in Saint -Mauritz Resort has Swiss skiing, as well as real estate elsewhere in Europe, the United States and Asia. He also buys the property in Dubai, according to people familiar with the situation.

A Metal spokesman refused to comment.

Mittal built its conglomerate from almost anything in the second largest steel producer in the world for nearly five decades. His family was transferred to the United Kingdom in 1995.

Four years ago, Metal – an important grant to the Labor Party during the era of former Prime Minister Sir Tony Blair – Retreat As an executive president of Arceelormttal, the group’s CEO, which has a market capital, has become 24 billion euros.

His son Aditya Mittal was replaced. The family has 40 percent of the company.

The expected departure of the billionaire places in the ranks of the growing wealthy foreigners who left Britain in response to the financial repression in favor of the Labor Party.

They are moving to tax -friendly judicial states, with countries such as the United Arab Emirates, Italy and Switzerland among the main beneficiaries, according to many beats and their consultants.

Mittal has many real estate in the UK, including a palace in Kensington Palace Gardens in London, which was the most expensive home in the world when it bought this from Bernie Ecclestone of 1 mice for 67 million pounds in 2004.

The UK taxpayers who leave the country face restrictions on the amount of time they can spend in Britain. They can usually visit up to 90 days a year – as long as it works on more than 30 of these.

Opponents argue that the non -periodic system is canceled that, instead of strengthening the British economy, the migration resulting from the owners of observers will harm Britain’s growth prospects. They say that wealthy individuals and their employees are strengthening the UK’s treasures through income and consumption taxes and many of them Active warrior.

The 226 -year -old regime allowed the UK resident to allow their permanent home to allow it to avoid paying the British tax on their foreign income.

In March 2024, conservative counselor Jeremy Hunt replaced one of the policies of the opposition Labor Party by announcing its cancellation, before the elections later that year.

Labor Party Adviser Rachel Reeves confirmed the cancellation of her budget in October and went further by ending the use of external funds to avoid the UK’s inheritance tax by 40 percent.

Many non -spinning and consultants said this change played a major role in their decision to leave.

Participated in additional reports from Chloe Corniche in Dubai and Robert Smith in London