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