TaxPersonal TaxGreek shipping heads to flee UK over non-dom tax

Greek shipping heads to flee UK over non-dom tax

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

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