Spain is preferred destination for UK's Millionaires

 

Over 50% of UK Millionaires have either already left the country, or are seriously thinking of doing so due to high taxation and a better living standards abroad, according to a recent survey by Skandia.

The report surveyed 500 Millionaires and found that just 44% were certain about remaining in the UK.

However whilst high UK taxes was a consideration for leaving, just 2% were thinking of emigrating to a tax haven such as Switzerland or the Cayman Islands, with Spain and France heading the list of preferred destinations.

Interestingly, the research also showed how less than 14% of those surveyed were born into money. The vast majority of Millionaires gained their fortunes from hard work or shrewd investing, with only the minority inheriting their money.