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
At least 30 shipping companies have left London since 2000 because of
concerns that foreign income would be made liable for UK tax.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals