London is facing a mass exit from the Greek shipping industry because of plans to levy a £30,000 charge on non-dom taxpayers.

According to the FT there are 100 family shipping businesses in the UK that contribute $10bn (£5.12bn) to the UK economy.

These families, representing about a fifth of the Greek-backed commercial shipping fleet, are now making plans to relocate to Athens to avoid the government's plan to charge non-doms a £30,000 levy to keep off-shore income tax free.

At least 30 shipping companies have left London since 2000 because of concerns that foreign income would be made liable for UK tax.

Further reading:

Digby Jones breaks ranks over non-dom tax

Lord Mayor of London attacks non-dom policy