Reform UK reveals 'Robin Hood' policy plan for non-doms
- Reform UK announced a plan on Monday in Westminster for non-doms to pay a £250,000 fee to avoid many UK taxes.
- This plan responds to a record exodus of wealthy non-doms caused by the government's abolition of the status and harsher rules.
- Under the 'Britannia Card' scheme, non-doms would be exempted from tax on overseas income and inheritance tax for 10 and 20 years respectively.
- Reform states the policy would raise £1.5bn–£2.5bn annually and distribute £600–£1,000 to 2.5 million lowest-paid workers tax-free via HMRC.
- Critics call the policy a 'golden ticket for foreign billionaires' that risks lost revenue and may require tax hikes or public service cuts to compensate.
25 Articles
25 Articles
Let non-doms pay £250,000 and avoid some UK tax
Reform UK has announced it would give non-doms the chance to avoid some UK taxes by paying a £250,000 fee, with the proceeds going to people on the lowest incomes.Non-domiciles (or non-doms) live in the UK but have a permanent home overseas for tax purposes.Under Reform’s plan, non-doms would pay the fee for a new Britannia Card and in return not be taxed on wealth, income or capital gains earned abroad. They would also avoid the need to pay inh…
Nigel Farage slammed for ‘billionaire giveaway’ non-dom tax policy
A new tax policy that Nigel Farage is set to unveil has been slammed as a ‘giveaway’ for foreign billionaires. At a press conference this morning, the Reform UK leader will announce that if elected, his party would reintroduce non-dom tax status and allow the super-rich to avoid paying tax in the UK for a one-off fee of £250,000 every ten years. In an article for the Telegraph, Farage said that millionaires and billionaires who pay the fee for…
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