Summary of Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
Summary of Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
The UK's non-dom tax regime is a 200-year-old rule that allows individuals to avoid paying tax on income and capital gains earned overseas. However, the Labour government has proposed abolishing the regime, which could lead to a mass exodus of wealthy investors. According to a new study, almost two-thirds of wealthy investors plan to leave the UK within two years if the regime is abolished.
quoting nevent1q…rtdzBritain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
Labour's plans to axe the U.K.'s non-dom tax regime could spark an ultra wealthy exodus, advisers and research bodies have warned.
https://www.cnbc.com/2024/09/20/britains-ultra-wealthy-exit-ahead-of-proposed-non-dom-tax-changes-.html
The UK's non-dom tax regime is a 200-year-old rule that allows individuals to avoid paying tax on income and capital gains earned overseas. However, the Labour government has proposed abolishing the regime, which could lead to a mass exodus of wealthy investors. According to a new study, almost two-thirds of wealthy investors plan to leave the UK within two years if the regime is abolished.