‘Petrified’ non-doms poised to flee UK over Labour’s tax plans, say experts

https://www.theguardian.com/politics/2024/apr/13/uk-non-doms-uk-labour-tax-plans

by qwerty_1965

49 comments

  1. Can you really flee somewhere that isn’t your home?

  2. Yes I imagine they are terrified. Bonus time for their accounts and lawyers I guess, and they take their spending elsewhere. Penthouses on Park Lane will be going for £250k soon.

  3. How does this impact the UK? They’re not going to close businesses they have? They’re fleeing because they’re being asked to pay their fair share… Do we really want these people here who think they don’t have to contribute?

  4. Great. If you aren’t paying your taxes in the UK, don’t use the public services here in the UK.

  5. Why are *Non Doms* being ‘Petrified’ being reported as a negative?

  6. So those who don’t pay tax will leave. When is a threat, not a threat.

  7. Yet another group of the self entitled who always threaten to leave whenever there is a hint of any type of government that is slightly nearer to the centre than the current bunch of money grabbers.

  8. Labour tax plan that the Tories have appropriated, you mean. Non-dom status is doomed whatever government takes charge. We’ll really miss all those ~~oligarchs~~ arrogant, crooked, billionaire bullies and their brattish children.

  9. Oh no, I’m gonna lose soooooooooo much sleep over this tonight!!

  10. As usual, the comments show just a lack of understanding on what it is they’re trying to get outraged about

    Non-doms still pay tax on their UK income and gains. It’s foreign income and gains where they have some advantage

  11. They are not fleeing. They are non-dom by definition not domicile in the UK

  12. We need a system in place where inversters outside UK or people who no longer live in UK we can charge additional tax on their properties. So the rich although they can flee UK a lot of their investments and assets are stuck in the UK. They can flee as long as they pay a premium on their assets or pass it over to people living in UK

  13. This has been the strategy for equality all along. Chase the rich people out. Everyone is equally poor.

  14. ‘Don’t make us pay our fair share, or we’ll throw our toys out of the pram.’

  15. You mean getting them to actually pay tax? Shocking. Sunak must be quaking.

  16. I remember Jim Davidson pissed of to Dubai when Labour got in power in 97. So there are significant net benefits.

  17. I’m not sure what the problem is. The super wealthy pay very little tax as it is and trickle down economics really doesn’t work so what exactly are they providing in value to the UK?

  18. Statistics show the ultra wealthy rarely ‘leave’ as their assets are usually already spread so internationally

  19. Oh no what will we do now without all that tax money that they don’t pay anyway?

  20. Let them leave. They already aren’t paying taxes. What difference would it make?

  21. Attempting to depend on the ever increasing wealth a few super rich is not sustainable. Economic policy must be shifted. If a country can produce enough goods and services to support its regular citizens, who cares about trying to placate a few super rich.

  22. Good, fuck off then. This is when you know the tories are proper fucked, the usual “if labour gets in, we’re leaving!” stories start doing the rounds regarding rich people being terrified at the prospect of having to pay their taxes. They rarely leave, and those that do contributed little anyway, so fuck ’em.

  23. They say this everytime and I just want someone to call their bluff. They’ll either leave and absolutely nothing of value will be lost or they stay and pay their fair share.

  24. “Petrified”?!? Oh fuck off, I thought that my respect for these degenerate vermin couldn’t drop any further but fuck me, here we are.

  25. Who cares?

    The entire point of their non-dom status is claiming they don’t really live here so that they don’t have to pay as much tax. Let ‘em fuck off

    “Oh they’ll take their businesses with them”, okay, and? That leaves an opening for someone to start a new business in the same field that does the same thing but actually pays taxes

  26. I am not sure how this is a Labour thing. Tories already changed the non-dom rules in budget.

  27. They won’t flee at all, they’re also here for the other things the U.K. can offer such as the cultural aspects, relative safety of the country, clout etc. If tax was their only concern they’d all be living in places like Luxembourg or Panama.

  28. This thread sums up the problem with the UK.

    People who take more out of the system than they put in, are criticising people who are net contributors.

    Non-Doms will leave and Labour will be left with a black hole in their budget.

  29. Isn’t it a case of they live here, act like they don’t in order to get around paying taxes, and can’t just bugger off anyway because their money is in assets rather than sitting in a bank? And if that’s not the case, then they aren’t paying taxes anyway so what’s lost?

  30. Good. If they’re not willing to contribute to UK society and just see it as a tax haven they can f*** off as they’re not welcome.

  32. Yes they’ve said this since the 60’s when the govt slogan was ‘squeeze them till the pips squeak’ the number of people this cohort includes is small, so see ya 👋…

  33. Because they can’t avoid paying their fair share of tax! Don’t bang the door on your way out!!

  34. People need to stop being so soft on these rich non-doms. If they don’t contribute a fair share of their revenue to taxes, you and I have to make up the difference. They will not up and leave the country as the place is a safe and stable country for their investments like property. It is the exact reason they’re here. Them just leaving because they have to pay a few extra percent on their returns is a fantasy rich people tell the plebs to retain control. Shared in media outlets controlled by billionaires. You’re being taken for fools and being told to be grateful for the pittance these parasites contribute.

  35. Are the guardian trying to convince people this is a dreadful thing for the country?

    Do we want extremely wealthy people who are only taking money out of the country and not putting it back in to stay?

    It’s like when Apple or Amazon threaten to leave when they get pressed to pay tax, good! Let them leave! I’d rather a business that puts money back into the economy stay here and contribute.

  36. Oh no! Not the people who drive up the price of everything but don’t pay tax! How will we survive without them?

  37. If super-wealthy non-doms are scared of your potential government’s reasonable plans, that’s probably a pretty good sign.

  38. These are probably the types the new version of labour wants as doners unfortunately.

  40. Alt:
    People who don’t pay taxes may bugger off and not pay taxes still.

  41. They paid tax on the income in their home country – this would be taxing them twice, brits do the same when they move above to retire

  42. This is wheeled out every time the tories are set to lose power. Who cares

  43. But we *need* billionaires who dont pay any tax or where else will the conservatives get their party donations?

  44. As if.

    And go where exactly? 
    They live in the UK for a reason. They’ll stay. 

  45. I bet the Tories will be delighted to finally see a bunch of tax-dodging free loaders who don’t contribute to the country finally piss off!

    Oh wait…

  46. The devil is in the details.

    A move from domicile to residency based systems (likely with a lag) can *reduce* tax for some rich people.

    Do not uncomplicatedly view this as a tax rise on the rich. It is not.

    1) At least under the Tories plans (which are broadly similar to labours), I as a British person with a British domicile of origin could come back to Britain and pay no tax on foreign income (ie all my income) for four years. Under the old domicile system I could not do that.

    2) It likely means rich Brits long term abroad will uncomplicatedly escape British inheritance tax

    I could bore for England on this topic.

    I think it’s a sensible and fundamentally fair move, but it’s NOT likely to be a big revenue raiser.

    It’s a tax cut for rich Brits and a tax rise for rich foreigners, in the simplest terms. UK Inheritance tax is now even more simple to avoid than it was before.

    It will change the way rich people come and leave the uk.

  47. They should have to pay an exit tax. They benefited from the people of the UK heavily and now when they have to pay their fair share they run. Exit tax these assholes.

  48. How many times have I heard this.. also as they don’t really contribute what’s the problem?

  49. OH NO

    The people that don’t pay tax are going to leave?!?

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