According to the 2006 World Wealth Report, the number of high net-worth people in the UK rose by 7.3% in 2005, up to 448,070, compared to 417,510 in 2004. The report also said that the growth of people in the UK with net assets of at least $1 million (£542,000) excluding their primary residence, would slow down in 2006, because of high household debt and predictions of tax rises. It expects that the high net-worth in the UK will begin to reduce their property investments this year, after fears of a property downturn.
Our view:
Best of luck to you all. We wish we were there with you! However, we can probably save you thousands in sound tax planning advice. Book a callback from us.