The Telegraph quotes Dominic Lawrance on Reform UK’s proposal to mimic the Italian-style flat tax non-dom regime
Nigel Farage, the Reform UK leader, has set out a radical tax policy giving new or returning non-doms the chance to pay a £250,000 one-off fee to shield them from paying tax and encourage them to stay in the UK.
Under the plan, non-doms would pay a one-off entry contribution in return for a stable, indefinite remittance-style regime on offshore income and a 20-year inheritance-tax shield.
The abolition of the non-dom regime, announced by the previous Conservative government and tightened by Labour in office, has led to several high-profile people saying they will leave the UK.
Dominic Lawrance, Private Client Partner, provides comment for The Telegraph:
The Reform proposal does appear to be more generous than the Italian lump sum
tax regime, which requires payment of an annual levy of €200,000. If the proposed £250,000 payment really is one-off and there is no additional annual charge to access the remittance-style regime...then on the face of it this is remarkably generous.
Read the full piece in The Telegraph here.
