Greek shipping heads to flee UK over non-dom tax
Greek shipping industry ready to quit London ahead of non-dom tax changes
Greek shipping industry ready to quit London ahead of non-dom tax changes
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
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleHMRC sees the profit or loss made on buying and selling of exchange tokens as within the charge to Capital Gains Tax (CGT). Read More...
View articleThe recent IR35 case involving former Liverpool footballer and Sky Sports presenter, Phil Thompson, has drawn attention to the complexities and implic...
View articleFrom January 1, 2024, HMRC will implement new tax rules affecting individuals who sell items on platforms like Etsy, Depop, and Vinted. The new regula...
View articleHMRC reveal a small majority of people are soldiering a significant proportion of income and capital gains tax, following FOI request. Data has reigni...
View articleSteven Pinhey, technical officer at the Association of Taxation Technicians (ATT), considers how the rules on deductible expenses work in a social med...
View articleATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleThis was the fourth largest borrowing year since records began in 1993 Read More...
View articleATT technical officer, David Wright, provides an overview of the welcome relaxation to CGT provisions for separating couples looking to transfer asset...
View article