Billionaire non-dom quit UK on day Hunt scrapped tax breaks, says adviser

Let them go if that’s what the country means to them.

It’s not like we are feeling the benefit of them being here

So by virtue of them leaving, the UK loses the right to tax them on their overseas income … income that they presumably didn’t pay tax on anyway by virtue of their non-dom status. Even the guy quoted says they will continue to frequent the UK and spend money here so the UK is losing basically nothing.

The number of people who will actually leave the country over this rule change is absolutely tiny anyway, there’s no reason to let them hold the country to ransom over it.

Billionaires should not exist!! A lot of people don’t comprehend how much money a billion pounds is! Nobody needs that kind of money for anything whatsoever! There is simply no moral or ethical tenet by which amassing a billion pounds or dollars in wealth can be justified! It’s greed at its absolute ugliest form! One can understand the need to make enough wealth to live a comfortable life for oneself and their family. But under no conceivable circumstances does one need a billion pounds, let alone multiple billions! The fact that we live in a world where a small group of people manage to hoard billions and billions in wealth which they do not even need while billions of people around the world go hungry on a daily basis is testimony to how horrible a species humans are!

Goodz fuck off back to lolita island or where you wankers hang out! 

So didn’t pay any tex before, and will now also not be paying any tax. Don’t let the door hit your arse when you board your private jet

We need exit taxes which will tax these parasites into the ground.

“If you own assets over over £999,999,999, when you return to the U.K there is a return fee of 5% for the first year, 2.5% the second year 1% thereafter, based on global assets. This does not include CGT made from savings and investments brought from the UK, and any income tax made whilst the individual remains resident in the U.K – visitor or not. Non-payment means you are an illegal immigrant”.

Oh no. Wealthy people are going to go and not pay the taxes they weren’t paying here anyway somewhere else, but still come back here to pay us tourist money sometimes while they stay in one of their 17 houses.

Fuck em. Let them go. And let the private schools empty out over the next half decade as the less mobile wealthy fuckers flit off elsewhere too.

I don’t want to have to share this island with people who don’t even want to be here if it means in any way contributing to the things that make it a decent place to be. Fuck off to one of the sparkling cities built by slaves. We’ll fix the potholes without you.

How do you possibly have a nice stable home life if you have 17 houses ?

There’s 68,800 non doms in the UK… they pay 30k a year to keep the non dom status, That’s over £2b tax raised a year JUST on that tax (when in reality when you include all the other taxes they generate, stamp duty, sales taxes etc etc) it’s going to be much more.

Why are people so keen on getting rid of this large net contributing group of people is beyond me. People will argue “they can afford to pay more tax so they should”, and even if that is true, they also have the flexibility to just leave if you try force them to and you end up with less overall tax revenues (see France’s experiments with a wealth tax).

Why not raise the annual fee from 30k to 50k instead, that’s a quick and easy extra £1.4 Billion raised for the government, and each yeah slowly increase until there’s too many that start leaving than the increase generates in revenues.