Reform UK plans to unveil their proposed Britannia Card, allowing wealthy foreigners and returning British citizens to enter the UK under a favorable tax regime. For an upfront payment of £250,000, applicants could enjoy a 10-year residence permit and significant tax exemptions including avoiding taxes on overseas income and inheritance tax. The funds raised would aim to benefit the bottom 10% of UK earners, potentially providing a tax-free annual dividend to millions of low-paid workers, while reigniting debates around tax privileges for the wealthy, reminiscent of past non-dom statuses.
In exchange for a one-off payment of 250,000, wealthy foreigners and returning expats could benefit from a bespoke tax regime, promising tax-free status.
Reform UK's proposal, the Britannia Card, aims to provide substantial annual payouts to the lowest-paid workers from the tax contributions of high-net-worth individuals.
The party claims the new regime will not only exempt overseas income from UK tax but also avoid inheritance tax, aiming to support Britain's working class.
By introducing this tax-light scheme targeting wealthy newcomers, Reform UK insists it aims to ensure immediate contributions to British society while offering financial assistance.
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