<h1>UK inheritance tax 40% on worldwide assets drives wealthy to Switzerland and Dubai amid exit tax fears</h1> A high-net-worth steel industry figure has relocated tax residence from the UK to Switzerland and plans to spend substantial time in Dubai amid anticipation of further UK tax increases on the wealthy. The move is reportedly driven primarily by UK inheritance tax rules that can subject worldwide assets to up to 40 per cent tax, and concerns over potential 'exit tax' measures, despite reports such a tax has been dropped. Other entrepreneurs, including a technology founder, are also shifting to Dubai, citing uncertainty over future UK capital gains and exit tax policy, which is perceived as undermining the UK's stability and predictability as an investment jurisdiction.