Alan Howard, General Atlantic Send London a Warning on Tax

In Mayfair’s financial enclave and the sleek offices of advisers to the ultra-rich, the talk is getting louder: everyone knows someone who’s thinking about their exit strategy — or already gone.

Moves that were once confined to whispers and rumors have burst into the open since the Labour Party came into power with promises to clamp down even further on preferential tax treatment for well-heeled foreign residents, known as non-doms, as well as private equity investments and private school fees.

Some are simply cashing in UK investments, but others — from scions of mega-rich families to City of London bosses — have mapped out ...