Latest news with #Henrys
The National
20 hours ago
- Business
- The National
Dubai offers a gateway to London's 'Henrys'
Hard by the corner of Kensington Church Street and Kensington High Street is the new Dubai Hub. As a statement location, it takes some beating. For those who don't know London, this is an area that is eternally fashionable, with a mixture of smart offices, shops, restaurants, mansions and luxury apartments. People work, relax and reside here. It's always busy, day and night. Transport links are good and parking is available. Accessible, central, appealing to go-getting businesses and individuals – not unlike Dubai itself, in fact. That's the point. The sort of people who throng here are known these days as Henrys in London. High Earners, Not Rich Yet are people earning six figures in pounds sterling but in an income tax and cost-of-living trap that means they do not feel affluent. The folks who live and linger in this part of town may be drawn to the UAE, might want to move their company or expand there, are looking to invest, could be considering relocating their company and their family to take advantage of Dubai's many attractions, not least the ease of doing business, branches of leading British schools and a less onerous taxation system. Occupying the ground floor of a modern, smart building, the Dubai Hub is a bridge between the two countries and structures. Supervised by Dubai Chambers and operated by Al Burj Holding, under licence from the Dubai government, it is designed to provide all the services that anyone wishing to invest in Dubai will require. Previously, they would have to travel to obtain advice and discuss and complete the necessary procedures. Now, step off the pavement and all that can be obtained under one roof, in the beating heart of one of the world's leading financial centres, in a prime, mixed-purpose district. Because it carries the seal of approval of the Dubai's authorities, the hub is both private and official. So, it is a fully licensed one-stop shop for advice and assistance. It is to help clients enjoy a smoother passage, to explain and facilitate any potential blockages, to negotiate the required steps and entry requirements. Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, explained the thinking behind the hub: "We are focused on enhancing Dubai's global competitiveness and ensuring seamless service access for our international clients. The launch of Dubai Hub sends a strong message: making business easier for our global investors is our top priority." As a declaration of intent, it takes some beating. Right now, the British media is full of articles about the lacklustre UK economy and the Labour administration's unpopularity and the targeting of businesses and the wealthy as a source of increased public revenue. Fears are mounting that what is a steady stream of departures may become much stronger. The shuttered houses appearing in parts of London are testament to those who have already left for good or they are choosing to return for the summer season, only to head back once the cold and shorter British days set in. Meanwhile, businesses wishing to develop internationally are seeking a user-friendly environment, one that is truly global in outlook and occupies a strategic geographical position between east and west, north and south, with everything, including a super air travel network, advanced infrastructure and communications, on tap. Dubai fits that bill. In a sense, the Dubai Hub prompts the question: what took you so long, given the strong, existing links between Britain and UAE? But it has arrived, a practical, very real symbol of the Dubai Economic Agenda – or D33 – aimed at doubling the size of Dubai's economy over the next 10 years. The plan is for those ties to become even closer. Indeed, Mr Lootah hails the move as further underlining Dubai's commitment to supporting investors abroad and pursuing the goals of D33. So, Dubai Hub London – as it is known; the aim is to add more such overseas locations – is intended to supply a complete menu of public and private services. The aim is to make it easier for UK-based businesses to establish and scale operations in Dubai. By supplying customised assistance, it will assist entrepreneurs, business owners and investors confidently navigate the complexities of entering the Dubai market. From legal and real estate to business formation and residency guidance, the hub functions as a single destination for end-to-end advisory and facilitation. The initiative simplifies cross-border transactions and eliminates many of the bureaucratic hurdles traditionally faced by international investors and their families (educational advice is on offer). At present, at this early stage, the hub is working closely with four government departments: Land, for dealing with property acquisition and investment; Economy and Tourism, for trading and the obtaining of licences; Courts, covering matters contractual and formal; and General Directorate of Identity and Foreigners Affairs, relating to visas, residence and identity documentation. The hub is also collaborating with leading property developers to provide suggested investment opportunities. In time, as the hub becomes more established and increases in size, the number of government bodies and services partnering the hub will rise. Support is given bilingually, in Arabic or English, and consultations are flexible, via remote or in-person. The first session is free and following sessions attract a flat fee. Because it is not an embassy or a consulate but is officially endorsed, it is a government outsourcing hub, in addition to being a place that can put together bespoke business relocation and investment packages. The frictionless best of both worlds then, and one that saves clients an inordinate amount of time and expenditure, cutting out the need to journey to Dubai to complete forms and comply with official processes. By taking away the pain it is effectively generating a substantial gain. Its mission is "to deliver accurate, professional consultancy that connects clients with the right Dubai authorities, saving them time, effort, and uncertainty". One question raised in London is why now? Close by the hub is the headquarters of the Daily Mail, Britain's biggest-selling newspaper in print and online, and a ferocious critic of the present Westminster government and its ministers. Woo business For them, the opening is bound to be regarded as a sure sign of the Keir Starmer administration's failure to woo businesses and their leaders. Undoubtedly, Dubai is finding a more interested and engaged audience. But it would be wrong to suggest this is a knee-jerk, hastily put together reaction to commerce's travails under Mr Starmer. It has been long in the planning, fits with a carefully considered Dubai government objective and reflects a well-established bilateral trading and financial bond. London is the business and financial capital of Europe and as such, it is a magnet for European enterprises and their backers. The hub is able to reach them and enhance Dubai's visibility within the region. That is the hub's vision, "to be the leading Dubai-focused advisory service in Europe – trusted for our clarity, professionalism, and results". For investors in Dubai, the website also declares: "Explore lucrative investment opportunities in one of the world's fastest-growing markets. Our services include real estate investment advisory, return on investment and rental yield consultation; government investment projects; private and public sector partnership support; legal due diligence for investments; real estate registration trustee coordination; investment-based residency visa support." That is quite a list. Investing in Dubai from London has just become a whole lot easier. Possibly long overdue, it has arrived and it is prominently situated. The Dubai Hub London, it is bound to fulfil a growing demand.
Telegraph
20-07-2025
- Entertainment
- Telegraph
‘I earn over £100k but travel the world on a shoestring – here's how'
With a six-figure salary and a three-bedroom London flat, Maria Lagutina seemingly has little need to be thrifty. But the 43-year-old swears by travelling the world on a budget, using home swapping websites which allow her to stay in strangers' houses for free. Maria, who works for NatWest, has travelled to Chicago, Los Angeles, San Francisco and Kent via home swapping agreements – and she claims to have saved as much as £15,000 in less than a year. 'I feel like we're holidaying now like people who have much higher salaries than us,' she says. 'We're being given an opportunity to holiday in a way that richer people don't think about.' Maria is part of a growing generation of Henrys (high earner, not rich yet) who earn six-figure salaries, yet find their cash swallowed up by high living costs every month. Such workers, who were once known for their aspirational lifestyles, are increasingly looking to cut back – especially on luxuries such as travel. Enter home swapping. The deal allows travellers to stay in someone else's property for free while also opening up their own, again for free. The idea was popularised by the 2006 film, The Holiday, starring Kate Winslet and Cameron Diaz as two characters who switch homes for Christmas. It has gained greater traction in recent years as families look to take more holidays per year while also grappling with the increasing cost of travel. In the 12 months to August 2024, British holidaymakers took an average of 3.9 trips per person, according to ABTA, up from the 3.4 holidays taken the year before. Meanwhile, a survey by consumer body, Which?, found the price of a package summer holiday in 2025 is now £50 per person more expensive than last year. Home swapping has also been praised for minimising the effect on local communities as the home is already in use, so it doesn't lead to local anger linked to second homes. But, for Maria, who originally hails from Russia, the biggest advantage is how much money she saves. She earns more than £100,000 a year, but still has a £400,000 mortgage on her £750,000 flat in Greenwich, south London. She claims she and her partner, Oleksandr Chudinov, 41, have been able to take more lavish breaks by using the home swapping website, Kindred. The site works on a 'credit' system. For every night a homeowner hosts a traveller in their property, they earn one credit, which allows them a onenight stay in somebody else's home. All properties hold the same value, regardless of whether it's a studio flat in London or a 10-bed villa in Mallorca. Home swappers do not necessarily stay in each other's properties, like in The Holiday. Instead, owners put their properties on the website and choose for themselves where they want to visit. The couple typically let out Oleksandr's mortgaged townhouse in the Amsterdam suburbs while they are travelling. They first began home swapping when Maria took part in the Chicago Marathon last year. The average cost for overnight accommodation in Chicago in September 2023 was $305 (£227), according to Statista. It meant that a week's hotel cost alone would have been $2,135 (£1,590) – and that may have been further inflated due to the popularity of the marathon. Maria says: 'It was a flat, but it was downtown Chicago and the architectural style was that of older town houses with wooden staircases. 'There would have been no chance we could have rented that if it had been on the open market. It would have been too expensive.' After a week, they flew to San Francisco where they also stayed in a home swap property, before renting a car and driving to Los Angeles with friends. In total, they spent 17 nights in the US and estimated it would have cost them a minimum of £12,000, excluding flights, had they not home swapped. Over the last 10 months, they have taken seven trips totalling 43 nights. Their travels have included a staycation to Penshurst in Kent and a week-long stay in Majorca in a four-bed villa, which would have cost them at least £300 a night. The pair also went to Reynès in France this year too but paid for that holiday. Oleksandr, who is on a break from a 15-year career in corporate banking, said: 'I feel like it gives us more opportunity to travel. If you are willing to open your house to other people, the world is much bigger to you. 'But in a way you are paying for it by hosting guests. You still have your own costs in terms of a mortgage. In the past, we'd have double costs – you'd pay a hotel and at the same time your house would be empty but you'd still be paying your rent.' Home swappers should be aware of increasing regulatory red tape which means they could attract a bill from the taxman. Rules enshrined in the 2016 Budget by the then-Conservative government mean that non-monetary property income can still be taxed. This means home swappers may be liable for a bill, depending on the estimated value of the stay they received in return for letting out their property. Lindsey Wicks, of Tax Policy at the Institute of Chartered Accountants in England and Wales, says: 'Casual letting of property counts as a taxable property business. So even if a person doesn't receive money for letting out their property, they are taxable on the equivalent of the value received – in this case the value of staying in another property. 'If these home swapping transactions are done on a small scale, there may be no tax to pay.' Homeowners can earn up to £1,000, or equivalent, tax-free from renting their property. Wicks recommends that anybody who thinks the value of their home swapping stays exceed £1,000 should contact HMRC. She adds: 'Taxpayers should also be aware that online platforms have obligations to report details of goods and services to tax authorities where transactions exceed certain limits.' A spokesman for Kindred said it encouraged home swappers to seek guidance from qualified tax advisers if they have questions about their situation.
Evening Standard
17-07-2025
- Business
- Evening Standard
The London Henrys* struggling on £100k a year (yes, really)
'I can see that you're going to die laughing, but we genuinely don't feel like we have a quality of life to sing about,' says James, one of London's so-called Henrys. Director of a digital strategy company, he is profoundly dissatisfied with his lot. 'Henry' stands for High Earner, Not Rich Yet. And London is full of them: people on good salaries who are suddenly struggling. James talks me through the truth about the section of society whose members earn more than £100,000 a year but who barely make ends meet. 'The problems facing us are legion,' he says. And mad as it sounds, James has a point. Just 10 years ago a Henry would have been able to live in a nice — or soon to be nice — area, eat at some delicious restaurants, go on smart holidays and might even be able to swing the fees of a kid or two at private school. Not any longer.
Sydney Morning Herald
09-07-2025
- Entertainment
- Sydney Morning Herald
Wrexham's journey has been ‘unimaginable'. As they roll into Melbourne, they're loving every second
When Colin Henrys joined Wrexham AFC as a volunteer seven years ago, the Welsh club was languishing in the fifth tier of English soccer. He could never have imagined where he'd be in 2025: the club's head of media and communications, visiting Australia on Wrexham's first pre-season tour outside the United States, after a record-breaking three consecutive promotions up to the second tier Championship. 'I was just in the right place at the right time,' Henrys said. 'You can't be a volunteer and do it now, it's such an intense job. It's a 24-hour job.' Things changed for Henrys and the rest of the team at the world's third-oldest professional soccer club when Hollywood star Ryan Reynolds and It's Always Sunny in Philadelphia 's Rob Mac expressed interest in buying the club, and planned to film a docuseries of the journey to boot. The team's unprecedented meteoric rise in the years that followed was a recipe for a worldwide sensation; Welcome to Wrexham exploded in popularity. Australia is the third-largest audience for the show behind the UK and US. 'I'm loving absolutely every second, as I'm sure the rest of the lads are,' Wrexham captain James McLean said. 'When you're riding the crest of the wave ... you just go along. Where the club has gone in the last few years, it's been unimaginable, I'm guessing even for the owners and everyone involved. It's probably exceeded their wildest expectations.' Henrys said while on the Down Under tour – in which the Red Dragons will take on Melbourne Victory at Marvel Stadium on Friday July 11 before going up against Sydney FC at Allianz Stadium on July 15 – he had been taking calls from the UK at bedtime before waking up to emails from the US. 'There's interest from all over the world,' he said. 'You can always tell when the documentary is launched in different parts … you suddenly get a flurry of emails.'
The Age
09-07-2025
- Entertainment
- The Age
Wrexham's journey has been ‘unimaginable'. As they roll into Melbourne, they're loving every second
When Colin Henrys joined Wrexham AFC as a volunteer seven years ago, the Welsh club was languishing in the fifth tier of English soccer. He could never have imagined where he'd be in 2025: the club's head of media and communications, visiting Australia on Wrexham's first pre-season tour outside the United States, after a record-breaking three consecutive promotions up to the second tier Championship. 'I was just in the right place at the right time,' Henrys said. 'You can't be a volunteer and do it now, it's such an intense job. It's a 24-hour job.' Things changed for Henrys and the rest of the team at the world's third-oldest professional soccer club when Hollywood star Ryan Reynolds and It's Always Sunny in Philadelphia 's Rob Mac expressed interest in buying the club, and planned to film a docuseries of the journey to boot. The team's unprecedented meteoric rise in the years that followed was a recipe for a worldwide sensation; Welcome to Wrexham exploded in popularity. Australia is the third-largest audience for the show behind the UK and US. 'I'm loving absolutely every second, as I'm sure the rest of the lads are,' Wrexham captain James McLean said. 'When you're riding the crest of the wave ... you just go along. Where the club has gone in the last few years, it's been unimaginable, I'm guessing even for the owners and everyone involved. It's probably exceeded their wildest expectations.' Henrys said while on the Down Under tour – in which the Red Dragons will take on Melbourne Victory at Marvel Stadium on Friday July 11 before going up against Sydney FC at Allianz Stadium on July 15 – he had been taking calls from the UK at bedtime before waking up to emails from the US. 'There's interest from all over the world,' he said. 'You can always tell when the documentary is launched in different parts … you suddenly get a flurry of emails.'
