Britain’s richest plumber has put his £12million London penthouse on the market as he prepares to flee Britain ahead of a mooted Labour tax raid.
Charlie Mullins, who founded Pimlico Plumbers, has said he wants to have ‘no assets in the UK whatsoever’ and intends on not paying tax next year as he leaves the country.
The 71-year-old, who made £145million when he sold his firm in 2021, had moved into the property the same year after falling in love with the view over the River Thames.
But now he wants to get rid of the flat, which neighbours an apartment owned by Tom Jones, insisting that his family would ‘go mad’ if they had to pay inheritance tax because of it.
The businessman said he is concerned the new chancellor Rachel Reeves will increase death taxes and is instead ploughing his money into property in Spain and Dubai.
Charlie Mullins has said he intends to leave Britain to avoid Labour’s planned tax raids. Pictured: Mr Mullins at a Reform UK fundraising party in West London on September 4
As part of this he is planning on selling his £12million London penthouse. Pictured: Mr Mullins with his girlfriend Ra Ra on the balcony of the flat in 2022
The property comes with a prime view of MI6 headquarters and the River Thames, while Tom Jones is a neighbour
Since moving in Mr Mullins has filled the penthouse with his favourite film and music memorabilia
It also includes a 7ft blue and white Chinese vase in the lounge is based on a Famille Blue Chinese Temple, and originally stood in Sir David Tang’s ‘Shanghai Tang’ fashion store in Regent Street
Ms Reeves said that her budget in the Autumn will see ‘difficult decisions’ made, while Sir Keir Starmer warned those with the ‘broadest shoulders’ would bear the heaviest burden.
Experts have warned that increasing taxes will lead to an exodus of millionaires, with advisors to the UK’s richest households revealing last month that some are already moving to protect their assets.
Mr Mullins, who previously called Labour’s plans ‘a typical socialist money-grab’, has been outspoken about his plans to leave the country to avoid being hit by Labour’s tax raid.
He told The Telegraph: ‘I’ll have no investments here, no bank account here. It’s all in the process now. I think my last tax bill is January and that’s me done.
‘I’m selling my property because of the inheritance tax. It’s a £12m property – if I lose £6m, I’m brown bread. Family would go mad.’
It means that the 3,500sqft sub-penthouse, which has views of MI6 headquarters, Houses of Parliament, the London Eye and Westminster Cathedral has gone back on the market.
It will be a bitter pill to swallow for the entrepreneur, who said two years ago he had fallen in love with the property and filled it with a unique collection of giant Chinese vases, signed photos of Muhammad Ali and Michael Jackson and giant quartz stones.
The master bedroom boasts floor-to-ceiling curved windows, two walk-in showers as well as a free-standing bath. There’s also a guest bedroom and a third bedroom.
Each of the rooms has a beautiful terrace area, affording the property with stunning 360-degree views of London.
Mr Mullins beamed like a proud father when he showed off the home in 2022, saying: ‘The owners were initially reluctant to sell it. It’s a brand new apartment and has never been lived in. They allowed me to rent it and I finally persuaded them to sell it to me. I can’t believe that I own a place like this if I’m honest.
‘It was undoubtedly the views that attracted me to it – and the architecture too. I love its contemporary design, which fits perfectly with the vista on the banks of the river opposite the iconic MI6 building recognisable in recent James Bond films.
The former plumber posed with his girlfriend Ra Ra in front of the Harley Davidson petrol pump, which is a light-up champagne cupboard, and other Harley Davidson memorabilia on the walls
Charlie can see the MI6 headquarters, Houses of Parliament, the London Eye and Westminster Cathedral from his £12million, 3,500sqft sub-penthouse
There is a specially-made designer coffee table with a chrome ‘crack’ splitting it into three, and an 80-inch TV
He filled his penthouse with art, sculptures, pottery and artefacts chosen by him, for him, or commissioned by him
The property has a cabana-style bar, which is being propped up by the lifesize statue of an antique bronze skeleton holding two bottles of Moet & Chandon
Mr Mullins has filled the home with opulent sculptures and ornaments, such as this water font, as well as eye-catching paintings of London
‘The design of the exterior is curved to reflect the curve of the Thames, which creates fantastic terrace space too. The concierge service is exceptional too and it’s very, very secure.
‘I’ve had 10 apartments along the river and this one is head and shoulders above them all. I’ve never seen quality workmanship like it.
‘I have homes in Spain and Hutton Mount in Essex, but this is a different class. There’s no place like London. It’s beyond a dream to own an apartment here.’
The property was bought with the proceeds of his £145million sale of Pimlico Plumbers in 2021, a deal that also saw him sign a three-year non-compete clause.
That comes to an end in the coming weeks, with Mr Mullins setting up a new firm WeFix, which bills itself as ‘the Harrods of the handyman world’.
However, the Reform UK supporter says if he had known Sir Keir was going to win the election he ‘wouldn’t have opened up here’ and ‘if we get too much setback with Labour, we’ll move to Dubai’.
It would mean that Mr Mullins, who grew up in poverty in Elephant and Castle and became on the wealthiest men in Britain despite not having any formal qualifications, would have no business interests in the UK.
Henley & Partners, which helps wealthy investors to move overseas, estimates that Britain is on track to lose a record 9,500 millionaires this year, more than any country except China.
Its analysis found that the UK suffered a net loss of 4,200 millionaires in the first five months of this year, with a further 5,300 expected to go before January. The most popular destinations are Dubai, Switzerland and Portugal.
The Times has reported that one company offering relocation services to the wealthy recorded a 69 per cent jump in enquiries in August compared with a year earlier.
Ms Reeves has blamed a £22 billion ‘black hole’ in the public finances left by the Tory Government for the ‘difficult decisions’ which she will set out on October 30
The number of transactions in the high-end property market is slumping as wealthy buyers delay committing themselves.
According to House of Commons statistics, the top ten per cent of income tax payers contribute more than 60 per cent of all income tax receipts.
An exodus of wealthy taxpayers could mean that Ms Reeves’ measures could lead to a net fall in revenue for the Treasury.
A proposed packaging tax will add as much as 9p to the cost of glass bottles, while new ‘sin taxes’ on convenience foods and chocolate, cakes and crisps are being considered.
Meanwhile, Sir Keir faces a Commons rebellion against the move to axe millions of pensioners’ winter fuel payments, with up to 30 Labour MPs set to vote against the Government this week.
Sir Keir will also release the findings of a review into the NHS, chaired by Lord Darzi of Denham, a leading surgeon and former health minister, which is expected to act as the springboard for a ten-year Government plan for ‘fixing’ the service.
A ‘mansion tax’ proposed by the then-Labour leader Ed Miliband at the 2015 general election would have levied an annual charge on owners of properties worth more than £2 million.
Under his plan, the owners of a £3 million home would face a charge of around £10,000 a year, raising £1.7 billion annually.
Asked whether a version of the mansion tax could be introduced in the Budget, a Treasury spokesman said: ‘The Chancellor has been clear that difficult decisions lie ahead on spending, welfare and tax to fix the foundations of our economy and address the £22 billion hole in the public finances left by the last Government. Decisions on how to do that will be taken at the Budget.’
