It depends as conscious said. If it is for visa purposes I would be a little careful as this can affect your ability to apply for family visas if you need them, housemaids etc. As you are British it will not mess with your visa on arrival in some countries (such as Dubai) where many arab nationals need a managerial position or above.

Is the change in designation on your contract as well? Has your employer stated why they are doing this? Are you working for a company that has a graded employee system?

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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"