Rachel Reeves considers 20% tax on assets of people deciding to leave UK

Plans for settling-up charge' predicted to raise 2bn and would follow policy in place among most G7 countries

Rich people quitting the UK could be required to pay a 20% tax on their business assets as part of plans reportedly being considered by the chancellor, Rachel Reeves.

The Treasury has drawn up plans for a settling-up charge" on assets; a move that would bring the UK into line with most other G7 nations and raise a predicted 2bn for the public coffers, according to the Times.