Tax
The UK has always sought to attract the brightest and best from across the world and in April 2025 introduced a new four-year FIG regime. The Regime offers newcomers complete exemption from UK income tax and capital gains tax (CGT) on their foreign income and gains (FIG), even if those funds are brought to the UK. The UK will not charge inheritance tax (IHT) on global estates until the tenth year of UK tax residence, which means individuals can come to the UK for nine years without worrying about IHT on their non-UK assets: we call this the "Nine-Year Window."
Within this Window, FIG is tax-free in years one to four, and subject to full tax in years five to nine (at up to 45% on income and 24% on gains). However, when averaging those rates across the full Nine-Year Window, it results in attractive effective tax rates: 25% on income and 13.3% on gains (assuming stable income/gains).
With some planning, those effective rates could come down even further. For example, if a significant capital gains event (such as a company exit) can be timed so that the gain arises in years one to four, a larger proportion of your gains will have arisen in the "tax-free" portion of the Window. In years five to nine, the focus shifts to mitigating or deferring income (and further gains), using tools such as insurance wrappers, trusts, family investment companies and lifetime gifting, to name a few.
Immigration
The UK remains a highly attractive destination for individuals to move to, with record numbers of immigration over the last few years. We find our clients are attracted to the UK for, among other things, the quality of life, the rule of law, political stability, cultural vibrancy, commercial innovation, ease of doing business and education. The UK has various immigration categories and among the most popular for our clients are the following:
- Expansion Worker and Skilled Worker visas for those looking to work in the UK or start a business here;
- Innovator Founder visa for individuals with a new, innovative, viable, and scalable business;
- Global Talent visa for leading individuals in academia, arts, culture, and tech;
- Family based visas for qualifying relatives of British citizens or those with settled status; and
- Student visas for children and adults looking to access some of the best educational institutions in the world.
Our team
With presence in London, Oxford, Cambridge, Singapore and Hong Kong (through its association with Karas So LLP), the firm services an international community of clients and provides advice in situations where the constraints of geography often do not apply.
We are the leading private client firm in the UK, and we are able to assist with all aspects of tax and wealth planning in addition to the immigration aspects of a move to the UK. At Mishcon Private, we have a deep understanding of the dynamics and politics of families, family businesses and personal relationships. We understand the issues our clients face and what keeps them awake at night. We know that their concerns go far beyond money and wealth preservation: family issues, reputation, their home, the things they love, or their legacy are far more important. Our business is protecting them, their interests and the things that matter most to them.