Robert said: “It’s going to be difficult for the chancellor to balance the perceived unfairness of a system that allows people to live in the UK without paying tax on a worldwide basis, with encouraging ultra-high-net worth individuals to base themselves and their businesses in the UK where they will pay a significant amount of tax. The consequences of getting it wrong will be damaging to both the economy and our position as a leading global financial centre. We predict that a lot of non-doms currently based in the UK will leave and move to jurisdictions like Italy where they have introduced an extremely attractive non-dom regime.”
Robert advises on tax, trust and estate planning for wealthy individuals, their advisers and trustees. He acts for a wide range of clients including the owners of landed estates, business people, non-domiciliaries and international families with assets in multiple jurisdictions. At Payne Hicks Beach, we understand that client need clear advice, particularly when faced with a tangle of complex tax rules. We aim to provide simple practical solutions and to communicate the most complex advice so that it is capable of being understood and followed. Our experts are well equipped to give the best legal advice, which combines excellent technical expertise with up to date understanding of current tax planning strategies.
