Is the Chancelllor offering non-doms first class plane tickets to get out of the UK? - London Business News | Londonlovesbusiness.com
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from London Business News | Londonlovesbusiness.com3 months ago
Nimesh Shah, CEO of Blick Rothenberg, noted that the transitional rules introduced by the Labour Government provide an easy exit for non-doms, enabling their swift departure from the UK without incurring the new '10-year tail' on inheritance tax.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/is-the-chancelllor-offering-non-doms-first-class-plane-tickets-to-get-out-of-the-uk/
The reforms announced at the Autumn Budget will likely accelerate the relocation plans of non-doms already contemplating leaving the UK, as the 40% inheritance tax impact significantly alters their financial outlook.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/is-the-chancelllor-offering-non-doms-first-class-plane-tickets-to-get-out-of-the-uk/
Concerns have been raised about the feasibility of the £12.7 billion revenue projection following these reforms; with non-doms potentially leaving, the government may struggle to meet its financial targets.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/is-the-chancelllor-offering-non-doms-first-class-plane-tickets-to-get-out-of-the-uk/
Shah expressed skepticism regarding the government's ability to reach the £12.7 billion target, especially in light of the additional complexities introduced by changes to capital gains tax and inheritance rules.
London Business News | Londonlovesbusiness.comhttps://londonlovesbusiness.com/is-the-chancelllor-offering-non-doms-first-class-plane-tickets-to-get-out-of-the-uk/
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#non-domiciles #tax-policy #uk-government #fiscal-policy #inheritance-tax
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