Hedge fund billionaire Chris Rokos, who was ranked as the UK's third-highest taxpayer last year, has reportedly decided to leave the UK for Greece. According to reports, Mr Rokos plans to open an office in Athens.
Greece has generous tax rules for wealthy foreigners earning overseas income, allowing those who meet certain criteria to pay a flat yearly tax of €100,000 (£86,000) on all overseas income. Mr Rokos paid £330m in tax last year.
The decision comes ahead of Chancellor John Healey's first Budget on 28 October. Mr Healey did not rule out tax increases in a recent interview, citing pressure on public finances from increased government borrowing costs. Mr Rokos's representatives declined to comment on the move.
A government spokesperson stated that the UK remains an attractive destination for talent and investment, adding that the Chancellor has made wealth creation a top priority.