July 21, 2025

EP. 180 - Tax Director Reveals Why Millionaires Are Fleeing The UK (And Where They’re Escaping To) ft. Peter Ferrigno

1 hour 56 minutes

In this episode, Ato speaks with Peter Ferrigno, Director of Tax Services at Henley & Partners who is the global leader in residence and citizenship planning.

We discuss:

- Why so many Millionaires are leaving the UK

- How Millionaires leaving the UK impact it’s economy

- The countries with the lowest tax rates

- What you should consider before moving abroad

- How to protect your financial future and much more

🔗 Connect with Peter:

Linkedin: https://www.linkedin.com/in/peterferrigno1

Instagram: https://www.instagram.com/peter.ferrigno

📩 Sign up to my mailing list to be the first to know about upcoming events:

⁠⁠⁠⁠⁠⁠⁠⁠⁠http://eepurl.com/hJEcLL⁠⁠⁠⁠⁠⁠⁠⁠

💼 What's in The Wallet

Submit any question anonymously and it may get answered in future episodes. Drop your question here: ⁠⁠⁠⁠⁠https://tally.so/r/w5gzdE⁠⁠⁠⁠

🤝 Partners

📚Coursera - Learn AI, Cybersecurity, Project Management, Data Science & more with the education platform that I use:

https://imp.i384100.net/savvywallet

Some of the links are affiliate links which means that we will receive a small commission if you make a purchase, however there will be no additional charge to you.

TIMESTAMPS

0:00 - Preview

1:11 - Intro

1:22 - Meet Tax Director, Peter Ferrigno

6:53 - Are more people leaving the UK now?

9:40 - The UK lost 16,500 Millionaires

15:03 - Why Capital Gains Tax Is Lower

23:12 - How do millionaires leaving the UK impact us?

28:26 - Should we care about millionaire leaving the UK?

34:04 - How many more millionaires will leave the UK in 2025?

34:24 - Where are millionaires moving to?

42:22 - Getting citizenship by investment

43:11 - The Italian Tax System

43:59 - Why do countries want millionaires ?

48:21 - Why is the every day person leaving the UK?

50:23 - Opportunities of staying in the UK?

53:05 - People are coming to the UK

54:28 - Impact of scrapping Capital Gains Tax

56:12 - The 60% tax trap

59:09 - Don’t reduce peoples personal allowances!

1:02:54 - Make it easy for people to spend money

1:06:27 - Countries in the world with the highest taxes

1:12:54 - Practical steps to protect your financial future

1:19:07 - Budgeting and financial planning

1:23:44 - Simple ways to reduce tax

1:26:16 - Common tax pitfalls to be aware of

1:28:29 - What would stop people from leaving the UK?

1:35:49 - Key lessons from 35 years in tax

1:38:36 - Advice for moving abroad

1:40:59 - Which countries has the lowest tax rates in the world

1:45:04 - Final words

Disclaimer: The information contained on this video is not intended as, and shall not be understood or construed as, financial advice. I am not a financial advisor and the information in this video is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.

Learn more about your ad choices. Visit megaphone.fm/adchoices

...more

View all episodes

By Savvy Wallet