Non-dom exodus could cost UK 23,000 jobs, disputed report claims Economics Scrapping the non-dom tax regime could cost the UK £6.5bn and 23,000 jobs in the next ten years, a think tank has claimed in a report whose findings were questioned by leading academics. The study, published by free market think tank the Adam Smith Institute (ASI), suggests that abolishing the special status for wealthy foreigners [...]
Tiered tax regime could stop non-dom exodus, lobby group argues Economics A controversial ‘Tiered Tax Regime’ (TTR) charging wealthy foreign nationals a flat rate of tax based on their net wealth would make the UK a more attractive proposition to high net worth individuals and help stem the departure of non-doms, a fresh study has argued. Under the proposal, which the authors claim has the overwhelming [...]
Record number of millionaires to leave UK as top academics join calls for exit tax Property The UK is set to lose the greatest proportion of millionaires in the world in the next four years, new analysis suggests, as a group of respected academics joined growing calls for Rachel Reeves to introduce an exit tax at the upcoming Budget. The Adam Smith Institute’s (ASI) Millionaire Tracker – a new initiative from [...]
The ultra rich exodus has made an exit tax tempting. Would it work? September 25, 2024 Millionaires are leaving the UK in record numbers, prompting the Resolution Foundation, an influential left-wing think tank, to propose an exit tax.
Are the super-rich running out of road? September 4, 2024 As more western governments look at ways to increase taxes for the ultra-rich, Ali Lyon asks whether it will work
Non-dom policy change could lead to ‘exodus’ of wealthy investors, study finds September 4, 2024 Planned changes to the non-dom tax regime could trigger a “mass exodus” of wealthy investors from the UK, costing the taxpayer around £1bn by the end of this parliamentary term, a new report has warned. The study from Oxford Economics, which polled 72 non-doms and over 50 tax advisors, found nearly two thirds of people [...]