Britain's upgrade to the division tax government that allowed international millionaires to live in the country while paying low tariffs leads to the transfer of the rich.
A new system that replaces the “non -dominant” tax gain came into effect on April 6, requiring those who have a permanent home abroad but live in England, pay the tax Like everyone else.
Case in point: Frederic de Mevius, one of the heirs of the founding families behind the world's largest businessman, AB Inbev. Bought property in the rich area of Kensington and Chelsea and drove Investment platform Basic in Luxembourg and London. De Mevius was also involved with various cultural institutions in the British capital.
But, according to registration films It is mentioned by BloombergDe Mevius recently moved his residence back to Belgium. When it is unknown what exactly caused an argument, a change in non -domain structure can play a role
De Mevius is far from alone. Henley & Partners, London's Citizenship Advisory Company, estimated that about 10,800 millions fled to England last year, second to China.
British government estimates from 2022-2023 indicate that 74,000 people claimed Non -DOM situation, accounting for $ 8.9 billion in tax revenue.
Instead of a non -DOM government, the new system will be based on housing and allows preferential rules to be used for the first four years of foreign revenue, compared to 15 years in previous tax format.
London dropped from fifth to sixth place among cities attracting millionaires, according to new conditions Released on Tuesday and company. It is one of the two cities in the position with a total loss of millionaires over the past decade, another being the Russian capital of Moscow.
Changes to a non -cyclone and high -rate tariffs make Britain attract less for long -term settlers, according to the report.
“Any foreign person in the UK for more than 10 years then he would be arrested by it (40%legacy tax), and if all structures for this prevent, such as deposits, have been seized as well, then the only solution is to leave,” Peter Ferrigno, Director of Tax Services in Henley & Partner, told Luck.
“If you are a person of international trade and wealth in many countries, that the UK takes 40% of your assets in the world if the event of your death seems to break the basic principles of 'equality.'”
Some of the factors affecting the British policies have been playing for several years, as well as a reduction in the importance of the London Stock Market compared to their world counterparts and poor investment environment for technology and entrepreneurship.
Critics of non -dom structure say it gives more people the richest people and tax rules when they stay in the UK for a long time. Some emphasize how millionaires can help create wealth in the country by hiring people in their business and investing in the economy.
The Adam Smith Institute (ASA) showed the departure of the millionaires as “a lot of confidence in our current economic structure and foundations.”
“Not only for the benefit of a millionaire that changes in cultures would have an advantage-country that hugs and strives for entrepreneurship, the creation of wealth, and the 'go-find-' attitude would do much to promote a rich community,” Asi said In the report.
The rich ways to stay in the UK seem to be diminishing. For example, investor cases that allow people to invest 2 million or more pounds in the UK were posted three years ago to prevent misuse.
Tea leaves show the greatest predictions for Britain in the next few years: it will lose 500,000 millions by 2028, according to a UBS Report last year.
However, the rapidly changing geography of the dam has led to the desire for other immigrants – especially Americans – to focus on compliance British citizenship.
This story was previously shown Bahati.com