Rachel Reeves promises Labour will close ‘non-dom’ tax loophole. Shadow chancellor says it ‘isn’t right that those at the top benefit from outdated tax perks’
Rachel Reeves promises Labour will close ‘non-dom’ tax loophole. Shadow chancellor says it ‘isn’t right that those at the top benefit from outdated tax perks’
25 comments
watch the non biased media post pictures of her eating sandwiches among other innocuous things that no one should care about but almighty pensioners
Be interesting to see if her boss supports this given how Starmer will need to make up labour party funding he chased away by pandering to the ultra rich.
> Labour said it would consult widely on how its new “temporary resident tax regime” would work but that any tax advantages would be likely to expire **after five years**, compared with up to 15 years under the current system.
So not closed then.
Am I misunderstanding what it means to be non dom? Doesn’t it apply to all US citizens working here to avoid them paying tax in both countries, so therefore isn’t just a benefit of the elite?
What’s stopping us from having something similar to the US, where if you’re a US citizen, you pay US taxes even on foreign income, no matter where you are?
If you’re a British citizen, you pay British taxes. Don’t like it? You can always give it up, with the exception of those that have no other citizenship.
My biggest concern with this statement and others like it from Labour atm is the fact they’re coming off the back of poll surveys way too late in the game for Labour to convince us that they actually believe this is the way.
They’re too slow to respond policy wise and it’s worrying big time.
It just feels they’re always late to the no brainer party, and that concerns me, especially since they’re now flirting with the big money donors ……which usually means scratching some unsavoury backs, and one which the public would balk at if they knew.
It is one loophole of many that Labour need to shut down. The trick is to impose tax measures and close loopholes that will only hit that 1% of super rich who can afford the expensive tax lawyers and accountants to avoid taxes in the UK.
I do hope that Labour are themselves engaging the top experts in this field to identify all the loopholes and formulate policies to shut them up well ahead of the next general election. Should be simple – live and do business in the UK – pay taxes in UK.
The 4th Viscount Rothermere Jonathan Harmsworth (hereditary recipient of non-dom tax status and owner of the *Daily Mail*) is going to LOVE this.
Finally – non-dom has been anti-british discrimination for at least 20 years
I think they should focus more on taxing foreign property owners better. So much is lost because of this and if has a price affect on the housing market in commercial and high end property.
I believe Labour saying they’ll close tax loopholes as much as I believe Tories saying they’ll bring immigration down to the tens of thousands.
Neither have any real intention of making these changes but they have to talk about it to rally their base(s).
she isn’t even proposing closing it, the time is just going to be further reduced to 5 years
Wait for the screams of outrage from the rags that are owned by Caribbean dwelling Tax Evaders.
Fine I will take my billionaire dollar company and move out…constant thing I hear about people saying the rich will just move if you tax them. No most of them actually won’t
Throw it in the manifesto and I could be swayed back to Labour. Just got to see how Starmer manages as his first two years were strongly impacted by covid.
Why should people be taxed in 2 counties? That isn’t fair
but i had people on here telling me they were perfectly entitled, legally & morally, to take advantage of it and that people were just torybashing to criticize those who use it.
i don’t even like Starmer’s Labour but at least some people make the right noises
Yes – good, this is a good policy. And then, when they find the next loophole, react swiftly close that one too. And the one after, iteratively improving your tax systems as you go.
I’ve known about the nom-dom loophole for several years (since Milliband’s time as leader I think). By the time people like me know about tax dodges, they should have been closed five years previously.
Funny how they didn’t deal with this whilst in power.
But did implement IR35 (making a lot less money on a much higher admin overhead) at great benefit to the larger consulting companies (who definitely don’t take their money offshore).
And one of the ministers involved used to be head of research at a consulting company?
I’m 30 now in my lifetime I hope to see a fair government that doesn’t skim tax money into its own pockets and properly taxes those who cheat the system.
How about they work on laws to stop all the corruption and lying in parliament first.
Because we really need some decent people in our government instead of the complete creeps we have now
Tony. Blair.
Can we please all just start there when it comes to paying taxes, because I didn’t vote for this man to bomb the middle East then take in hundreds of millions while paying almost no taxes on it.
Driving all the money to places like Monaco and Jersey. Real smart.
[A spiders web documentey about all the tax evasion loop holes, they are not hard to close, those in power simply don’t want to](https://youtu.be/np_ylvc8Zj8)
Rachel Reeve who has expressed joy that Labour did not win in 2019 proposing policies for a Government she never wants to see: what is the point of that?