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A new tax band set to be brought in by Alistair Darling in April this year could see high earners quitting the UK to seek climates, and properties new abroad. Mr Darling is set to introduce the new tax band for those with incomes over £150,000 and this could push earners who fall in to the bracket to seek residence in tax havens such as Gibraltar. Gibraltar, at the foot of Spain’s south coast has a fantastic 300 days sunshine per year on average and has been a British colony since the 18th Century.

Those with assets of £2million net, who invest in an approved property for exclusive residency (and have not lived in Gibraltar in the last five years) are likely to qualify for what is known as Category 2 status. This status ensures you pay no more than £24,500 tax on your worldwide income.