UK's third-biggest taxpayer to leave for Greece
Hedge-fund billionaire Chris Rokos is reportedly moving from the UK to Greece, likely to take advantage of favorable tax rules for wealthy foreigners. This move comes as the UK government faces pressure to increase taxes in the upcoming budget.
Why it matters
The departure of a major taxpayer highlights the challenges the UK faces in balancing tax revenue needs with the desire to remain an attractive destination for global capital.
Image source, University of Cambridge/PA Media By Raphael Sheridan and Mitchell Labiak , Business reporters Published 21 minutes ago A hedge-fund billionaire and one of the UK's richest taxpayers has decided to leave the UK for Greece, the BBC understands.
Chris Rokos plans to open an office in Athens, according to reports. Greece has generous tax rules for wealthy foreigners earning overseas income.
Rokos was ranked third in The Sunday Times list of Britain's top taxpayers, having paid £330m last year, and in March said he would donate £190m to Cambridge University.
Rokos's representatives declined to comment. A government spokesperson said: "The UK remains an attractive destination for talent and investment".
"The chancellor has made wealth creation one of his top priorities," the spokesperson said, adding that the UK has "a competitive and stable tax system, deep capital markets, world-class universities and a highly skilled workforce".
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