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Fred Done’s decision to relocate his property group to Jersey before Rachel Reeves’ proposed tax reform is a clear-cut case of exploiting loopholes. The timing and location suggest an attempt to avoid higher taxes on profits, undermining the integrity of the new regulations. This move not only highlights the ease with which wealthy individuals can sidestep national laws but also questions the effectiveness of such reforms in curbing offshore financial practices. Worse still, it sets a dangerous precedent for other businesses looking to evade similar future changes. Think of it as a red flag signaling the urgent need for stricter enforcement and international cooperation.

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