Does the PM agree that it’s only right for tax exiles to start paying taxes to fund our Armed Forces just like the rest of us do?’
It’s a fair question and one that many UK tax-payers will have asked themselves in recent days. And it is the question raised by Ed Davey in the House of Commons on 2 March.
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Around 240,000 UK nationals live in the UAE. They are not required to pay UK personal income tax, capital gains tax, or inheritance tax.
Roger Gherson, senior partner at Gherson Solicitors and adviser to HNWs tells RBI: “The immigration debate is becoming increasingly controversial. We need to start being serious and look at the facts. There is a strong argument that the government’s mandate was predicated on getting the non-doms to leave the UK. It took a view that tax revenue would be gained from this, despite being faced with overwhelming evidence to the contrary from professionals who have practiced in this area for decades.
£12.5bn – the cost last year of UK government non-dom policy
“However, they continued with the Proletariat policy to let the likes of pensioners, hospitality workers, and others to suffer for the cause. It has been reported that in the last year alone, non-doms would have contributed some £12.5bn to the tax system much of which has now been lost. The government has encouraged many high and medium earners to leave the UK with its tax policies and the oversimplification of this situation on social media and certain media outlets is becoming increasingly dangerous.
“Let’s get back to the facts. The government did not anticipate the non doms would take their offices and staff with them when they relocated. When domiciled individuals saw the effect of the tax policies increasing taxes they decided to relocate elsewhere as they were not prepared to pay more for the privilege of working and not relying on hand-outs from the state. These people are not scroungers. They are the future prosperity of the country, unlike the millions who stay in the UK, many of whom have no intention of working. As long as the State continues to provide hand-outs make it unaffordable to actually work in the UK nothing will change.
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By GlobalData“How can you be expected to stay in a country and build a future if you are taxed out of existence for the privilege of working hard?”
