UK Non-Doms Seek Italian-Style Tax

This is a Britain news story, published by CNBC, that relates primarily to Keir Starmer news.

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CNBC

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UK's ultra-rich non-doms urge Italian-style tax regime to prevent wealth exodus

Summary

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85% Informative

Britain 's ultra-rich non-doms are urging the government to introduce an Italian -style flat-tax regime to prevent a wealth exodus.

Lobby group Foreign Investors for Britain is set to meet with government officials on Thursday to discuss the proposals ahead of the Oct. 30 budget.

The U.K. 's non-dom status is a colonial-era tax rule, which permits people living in the UK but who are domiciled elsewhere to avoid paying tax on income and capital gains earnings from overseas.

Prime Minister Keir Starmer sought to promote the U.K. as a hub for growth and wealth creation.

The Mayor of London , Sadiq Khan , said the government must tread a fine line to avoid alienating wealth creators.

The Lord Mayor of the City of London Corporation , Michael Mainelli , acknowledged that there was a "problem" with the non-dom rules.

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semi-formal

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English

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