Call us on +44 (0)20 7465 4300
Robert-Brodrick (2)-min
05 March 2024

Britain loses non-doms to Italy as Hunt plots tax crackdown

Chairman and Private Client partner Robert Brodrick, Payne Hicks Beach LLP was quoted in The Daily Telegraph by Deputy Economics Editor, Tim Wallace in their article ‘Britain loses non-doms to Italy as Hunt plots tax crackdown’ which has been linked below with kind permission.
Tim Wallace states that as Italy enjoys a ‘flood’ of wealthy foreigners after ‘taking best parts’ of UK tax regime, Jeremy Hunt is considering scrapping the non-dom tax benefit. Robert Brodrick said that a flat fee system that is not contingent on where the money is held, would encourage more investment into Britain. Robert comments, “I’ve always felt the non-dom regime is the wrong way around. It encourages non-doms to keep their money outside the UK and it punishes them for bringing it in. The Italian regime, if it was implemented in a similar way here, does the reverse. A flat amount of tax satisfies your worldwide tax liabilities and you are free to bring as much money in as you like to cover your living expenses and setting up businesses.”
About the Author
Robert Brodrick
View Profile