From all the good advice from everyone, I have decided that I am not going to focus quite so much on the budget, but the machine and what it can do for me for the next 35 plus years!
My advice would be to slow down a bit and bring the focus back to the budget a bit, we've gone from a budget of £600 to well over £2000 in a matter of a few posts!
I can understand the desire to want the best possible right away, but it will honestly be wasted on a complete amateur and I feel some posters here are leading you down a path of
serious expense (initial cost of the machine, some form of three-phase supply, tooling on top of that...) without any good reason for it. More power is indeed a nice luxury, but a 3hp single-phase machine such as a Sedgwick SM3 or GW will do 90% of any spindle work without any issue whatsoever and all of what you mentioned in your first post, you'll only run into problems when you're taking massive cuts at a rate of knots (less than ideal anyway) which is when the extra horsepower comes into play. A tilting spindle is indeed useful, but only very rarely and there are workarounds for doing that kind of work on a fixed spindle, reverse is also helpful but again, only very rarely.
Get a smaller, more inexpensive, and more reasonable machine first, have a play, find its limitations while working with it if you even come across any, and then assess if you need a machine with more capabilities like the SCM 110s, Wadkin EQs, and what have you. There are bargains to be had on eBay and Facebook Marketplace, you just have to be patient and diligent and the right machine will appear for the right price.