Sorry, UK tax revenue is more than 1.1 trillion, NON doms approx 9 billion, less than one percent of tax revenue. UK housing market needs a correction as its over priced. frankly no one cares if the the top end of the London market isnt selling apart from the owners, speculators and estate agents. Trickle down economics as we know doesn't work. We all pay tax apart from the the wealthy thanks to loop holes, accountants and lawyers.
@@garyb455whatever tax rises will happen they will be nullified with low rent and low emi for the people This system of a person owning more than 1 houses and putting on rent needs to end
Britain isn't Singapore that relies on stamp duty revenue. In the second half of 2024, the UK manufacturing sector has seen growth in output, new orders, and employment. This includes the first increase in workforce levels since September 2022
@@gandhi9936 I can tell you. I sold my house in the UK, took the money out and left. The perception that fixed property isn’t liquid may be off the mark.
Everyone wants a free ride still, huh? You’re here making money, you should have to pay. It’s the law in most other countries. The U.K. has been a soft touch too long & our economy is tanking from the billionaires taking all the profits on U.K. goods & services & putting nothing back. Greedy people should leave if they wish & allow other businesses to step in & take up the gap. Yes, you, Starbucks & the like.
@@YorickReturns that’s not the point. You go into business to make a profit (obviously) 🙄. U.K. businesses can make a profit & pay tax, where foreign (already raking billions in profit don’t) let the greedy buggers go & let U.K. businesses thrive, profit & pay back into our own pot.
@@CL-un9gg That's what I'm saying. I'm agreeing with you. Goods and services exist, and rich people pretend that they're making them but they're not. We would all be better off without businesses.
@@YorickReturns we all need businesses that provide goods & services. We just don’t need the ones threatening to leave because they dint want to pay the same 40% tax at their earning threshold.
@@CL-un9gg We don't need businesses. If we did, why would we discourage them by making them pay tax? 40% isn't even enough. We should raise it much higher until all businesses leave.
Let them leave. They shouldn't be in the UK if they are not willing to pay their fair share towards our society and the rest of the world should stand up against these ultra wealthy individuals too.
While non-doms don’t pay UK tax on their foreign income, they do pay taxes on their UK earnings, assets, and investments - failure to do this is illegal. Many contribute significantly through taxes on UK properties, businesses, and capital gains. If these individuals leave due to tax changes, the UK could lose out on substantial tax revenue from their domestic activities. Plus, their spending and investments help fuel the economy-supporting businesses, creating jobs, and boosting growth. Losing this wealth from the UK could actually harm the economy more than it helps. The top 0.1% of the UK pay 12% of the UKs annual tax revenue, if these people start to leave like they did in the 70s, what money tree are you going to shake to get the money back?
@bigfisher4354 Mate, you're defending billionaires who are the biggest drivers of wealth inequality, which in itself is the biggest driver of poverty and lack of security in your future so keep defending them if you want but it's just sad.
@@bigfisher4354👏👏👏I had to go to law school to learn this. If the wealthy leave and they have been doing we are more screwed than anything due to Brexit but if the wealthy leave using only tax system which legislation has put in place for everyone to use but not everyone want to become a a multimillionaire. But I say this again, if they go it's not the NHS that people will go to because the NHS will have to start paying just like the shock I got when trying to find a dentist and couldn't find a NHS. I had to pay privately. This is really bad for the UK for wealthy people to leave but when people don't understand Economic because it's not taught to them it's more harmful because we don't have all the information. Information is completely free from local Library and the Parliament Channel is free where I learned alot whilst I studied for my law degree is informative and gives you free access to information which was always free. But I suppose if people want to stay ignorant that's simply up to them I suppose.
Many of them are middle class people who contribute a lot to the society, don’t be misled that only ultra-wealthy people are affected. Without their investments the UK economy is doomed.
@@Gravadlax-ki7rh 'Disposable' by selling them, not by taking them out of the country. The rich keep very little in cash in the UK and you cannot move property, business assets etc out of the country. I'm a traditional Tory voter but the shift of wealth from British citizenry to the wealthiest during covid was crazy. We were all robbed blind and we need to get at least some of it back.
@@Gravadlax-ki7rh their 'assets' will already be hidden in UK tax havens all over the world, i'm sure that Murica, the LAND OF GREED will welcome them with open arms, Murica loves a tax dodger
Depends what assets . Gold ? Cash ? Stocks and shares ? Even businesses are easy to move depending on the business structure . a head office can be as simple as a piece of paper and a Post box . If you own property outside of the UK , selling your UK based property or moving it into a business (which avoids most of these personal taxes) isnt particularly difficult.
@@thinkfuture7722 A return to taxation at source so they pay the taxes from the profits in the country where they are made and not the country where they have a Headquarters.
Assets will go with them properly can take time to sell but they will how many people know that currencies are also assets the UK is bancrupt debt to GDP 150 percent banks are insolvent no deals no loans and no deposits get ready for the commercial properties bust followed by the banking bust
@@christopheradderley6902 blah blah invest my ass they just extract wealth pay no taxes, buy up property so locals can't afford it and then send their cash into offshore accounts. They don't produce anything.
@@christopheradderley6902Yes. But largely invested in off shore funds via tax efficient (avoidance) trusts. That’s the whole point isn’t it. To keep their wealth abroad so that it’s not subject to UK tax while at the same time living in the UK. I say, live here, pay UK tax on your worldwide income and gains, same as most countries.
@@gizmo5601 you're conflating two concepts; income and wealth. They are not the same. Notwithstanding, even if the parent structure of multiple companies are distributed, the original point stands. 'Wealth' is the investment in the machines, buildings, and debt et al which make up an economy enabling it to function.
Why would the ultra rich exodus mean anything to me? And what fraction of people pay inheritance tax? I am told repeatedly that if I don't like the UK leave, what's different for these folk? And real estate non value adding SPIVERY getting a pasting again what's the negative?
Don't slam the door on your way out, we might be able to finally get things done without the politicians greasing every pole they want to slide their accounts down.
It's only a tiny proportion who may leave. Completely overblown to try to protect their wealth. If they want to benefit from living in the UK they should contribute a fair amount to maintain the country
Why would they return? Good luck to them. The UK is against people who want to take responsibility for their lives, not only the rich. Do you know how much you get from the government if you work full time on the minimum wage, have no kids, are not pension age, are not disabled and not a carer? You pay a lot of tax, and you get nothing. Well, maybe you can count the use of the roads. I wouldn't even count the NHS, though, because despite being forced to pay for it, you can't rely on it, and so if you care about yourself, you have to buy private insurance.
If they the billion or millionaires don’t like what is @bout to befall them then off you go and watch the door doesn’t hit you on the arse on the way out…
That's fantastic news. They're here, not for the UK, but for their own financial well being. Only high end Real Estate agents will be sad. Hopefully, it may bring the over inflated house prices down and thus a domino effect, so young people may get an affordable home.
The UK has the greatest difference in wealth between the rich and the poor in Europe. Why are the ultra wealthy not called oligarchs in the UK. Because that is what they are.
@@AM2K2 not so. In the developved democracies the biggest differences rich-poor are in the USA closely followed by the UK which heads the table in Europe.
Ultra wealthy investors my arse total propaganda, I would rather pay more and them piss off, take a walk around Marble Arch and see Wealth dripping from people who pay way less than they should
I'm going to ask the question, what exactly is the super wealthy doing for us in the UK, they use all the facilities we provide through our taxes but don't contribute, we fight their wars for resources and die for them to become even wealthier, when they get those resources by robbing the rightful owners they continue to gain wealth all the time paying a pittance to us and the resource owner, then they have the unmitigated Gaul to threaten to leave, why on earth should I give a Toss what they think or do, they only thing the contribute is corruption by bribing our so called leaders, have i missed anything ?.
They extract wealth from the country, pay no taxes and funnel the money into inflated property prices and offshore bank accounts. They do a lot for us. A lot of bad.
They invest their money, which creates goods and services and jobs, and they (even the non-doms) pay taxes. The real question, is what do "the poor" do for us?
@@YorickReturns the poor are the ultimate consumers of said investments, without people to buy goods, make goods, pull the resources from the earth non of what you've mentioned would ever be done. if your unable to sell goods then your business is dead in the water, and I refer back to my original statement.
@@YorickReturns no, they don't invest their own money, they borrow money from banks who in turn use the money that was deposited by the not very wealthy, via loans that charge interest to poor people, or in some cases the banks literally produce money from thin air, they don't even pay the same interest rate as you or I, I'm not an economist and I understand the fundamentals, so again I refer to my initial statement.
@@michael-qe4iz The rich often (not always) borrow money from the bank to invest, yes, but that money has to be paid back with interest. How? By being productive! The "not very wealthy" are paid interest too, if they deposit money. The government creates money out of thin air, and to the extent that it does, that is inflation. But do not confuse debt with money. When you deposit your money in a bank, you and the bank are trading money for debt. There is nothing wrong with fractional-reserve banking or even zero-reserve banking. In a free market, there would be a range of choices. As for loans to poor people, the government punishes banks for not selling loans to poor people and "rewards" (though it's not really a reward) banks for selling them.
@@jean-lucpicard5510 Do you not care about the effects on your quality of life? Do you care about yourself? Or do you just hate the rich? Be honest now.
Ive lived here all my life and im 61 in a couple of months. I hate the way this Country is being run and how we are being screwed over. Im working class and may look at getting out myself now as Labour are the pits😡
They all threatened this in 1997, not a single one left. They're sulking because they won't be able to avoid the taxes they should be paying. Quite frankly, they can pay their dues or FRO.
😂😂😂😂😂😂😂😂 Lobby Group she spoke to? who does she work for ? what's in it for her? other groups and rich people have said the complete opposite. If people don't want to pay their fare share for services GO and watch the door doesn't hit your arse on the way out, stop squealing and GO.
Landlords are buying houses for invest their money. Why they are increasing rent when the interest rate up. How do tenants responsible for the interest rate rise? If they bought a house for renting landlords pay the council tax. But they ask everything from tenants. The government brings a low for the maximum rent. Tenants are paying rent more than their income.
What are the new rules for asylum seekers in the UK 2024? The new immigration rules in the UK from 2024 for illegal immigrants who have made the United Kingdom as refugees are: Reuniting families by welcoming relatives through refugee family reunions (RFR). In the past five years, the majority of them have been children. Introducing a pathway for visitors from overseas.
Half the people on here are missing a point. It’s not just their property assets in the UK they’re selling up. Who cares about income for real estate agents. They’re relocating their businesses. This has a knock on effect in employment for ordinary people.
I totally agree with you however if you own a business you can mitigate tax through various legal means, example dividends. Those that indeed own their own business and are doing well will not relocate because they can afford to employ good accountants who will help navigate the ,many legal tax loop holes
Unfortunately changing the non dom rules might seem appealing but there are unintended consequences for doing so. Firstly the rules also allow HMRC to tax British citizens for 17/20 years after they leave. These arrangements are generally bi-lateral so agreed between HMG and the other country in question. Frankly the ditching of non dom status may well cause repercussions and if UK non dom revenue>non dom revenue it's going to cost you. Secondly the London housing market is the only one in the UK that created consistent growth over the last 25 years and that growth has driven growth in other parts of the UK. If the non dom ups and leaves potentially there's disproportionate capital flight. It's a tricky one and MPs with London houses are hardly likely to want to take one for the team.
They pay VAT as a business - it doesn't matter who owns the business - a group of businesspeople, shareholders, a co-operative - they will still pay VAT. But won't the business go if the rich go? So you won't buy, say, a new fridge unless it's from someone who pays a lower rate of tax than the poorest ten percent? You learn that the millionaire owner has sold his business and you refuse to buy a fridge? Or will you still buy a fridge because you need one? People will still buy the same number of fridges! Nothing changes. So if we keep buying fridges then we will still need people to make and sell them? Yes! So there is the same number of people employed to deal with the provision of fridges? Yes, for heaven's sake, yes! I worked as a self-employed businessperson. When I retired people didn't say, 'Now he's gone I'll have to go without.'! No, they simply went to one of many other people providing the same service. The world didn't end. Nothing changed - they got the service they wanted. Someone else paid the tax I would have paid, and that person got the work I would have had. The working class and the middle class own fewer assets than they did twenty years ago. There is literally nothing to stop this from continuing. Nothing. Except you. And me. This has been the way throughout nearly all history - mass poverty, with a few rich people who own nearly all the assets. Happy for the kids in your family to go back to this?
Wealthy groups including ex prime ministers & their associates have gained wealth & assets through business interests from the buying public now they want out they should have to pay an exit fee or pay their taxes
There is a lot of ignorance here. Any super rich non-dom has their assets offshore (not in the UK) precisely because of the non-dom tax laws in the UK. Holding the assets in the UK is not tax efficient for a non-dom. They may own a non-UK company that invests in UK property. The company pays taxes in the UK just like a UK company owning UK property plus abroad. The taxation of the non-dom person has no impact on their UK property holdings. It looks like many people here commenting do not know the legal definitions or tax laws impacting non-doms at all
Most left just before brexshyt due to the fact that if UK stayed in the EU then these big corps would had been made to pay a great deal more tax by the EU ..lol
@@alana8863 Whilst he pockets money in brown envelopes and reduces money for the old and disabled. Beware they will go after the Jews next. The Labour party is shockingly antisemitic. It will just be history repeating itself.
people who are only in UK to buy real estate are not here to invest in our economy, they just want to extract profits out of it
Good riddance and take your interfering foreign lobbyists with you.
Taxation where the profits are made and not where the HQ is registered.
Glad to see more people speak on this.
Real estate agents are going to lose business?
Womp womp
Might leave some real estate for us.
@@CL-un9gg not luxury for sure... I camt afford that!
@@billykotsos4642 me either 🫣
Wealthy people moving is not a loss of business for estate agents.
Sorry, UK tax revenue is more than 1.1 trillion, NON doms approx 9 billion, less than one percent of tax revenue. UK housing market needs a correction as its over priced. frankly no one cares if the the top end of the London market isnt selling apart from the owners, speculators and estate agents. Trickle down economics as we know doesn't work. We all pay tax apart from the the wealthy thanks to loop holes, accountants and lawyers.
you will have to make up the 9 billion with higher taxes for the poor, enjoy
They would rather buy up all empty apartments and board them up rather than let a real estate price correction.
@@garyb455whatever tax rises will happen they will be nullified with low rent and low emi for the people
This system of a person owning more than 1 houses and putting on rent needs to end
Britain isn't Singapore that relies on stamp duty revenue.
In the second half of 2024, the UK manufacturing sector has seen growth in output, new orders, and employment. This includes the first increase in workforce levels since September 2022
Agreed but turkeys don’t vote for Christmas.
Their wealth is in assets. You can't pack up a portfolio of houses in a suitcase and bring them with you.
Most of these people won't have most of their money in houses, although some will be, most of it will be shares.
@@djohnston6856 but you CAN put the property in a business which is headquartered outside the uk
Oh please go and not let them back
Oh yes? So where will they take all the expensive UK properties they have accumulated?
@@gandhi9936 I can tell you. I sold my house in the UK, took the money out and left. The perception that fixed property isn’t liquid may be off the mark.
Let them all leave, I see zero benefits of them being here to me, nothing they are doing trickles down to my life. It's all self self self with them.
They’ve been threatening to leave for years.
Make sure they leave their British passports at the boarding gate.
And now they're already going, lost 3 rich friends to urgent emigration
@mb-3faze you don't think they'll come back to this s#!t hole do you...
Threatening “if such and such” … there are thresholds…
Yet they're still hear. Also introducing all these tax avoidance methods didn't cause more ultra-wealthy to come to the UK.
Everyone wants a free ride still, huh? You’re here making money, you should have to pay. It’s the law in most other countries. The U.K. has been a soft touch too long & our economy is tanking from the billionaires taking all the profits on U.K. goods & services & putting nothing back. Greedy people should leave if they wish & allow other businesses to step in & take up the gap. Yes, you, Starbucks & the like.
Exactly. Goods and services have always existed. Rich people come here and try to make profit off it. I have had enough.
@@YorickReturns that’s not the point. You go into business to make a profit (obviously) 🙄. U.K. businesses can make a profit & pay tax, where foreign (already raking billions in profit don’t) let the greedy buggers go & let U.K. businesses thrive, profit & pay back into our own pot.
@@CL-un9gg That's what I'm saying. I'm agreeing with you. Goods and services exist, and rich people pretend that they're making them but they're not. We would all be better off without businesses.
@@YorickReturns we all need businesses that provide goods & services. We just don’t need the ones threatening to leave because they dint want to pay the same 40% tax at their earning threshold.
@@CL-un9gg We don't need businesses. If we did, why would we discourage them by making them pay tax? 40% isn't even enough. We should raise it much higher until all businesses leave.
Let them leave. They shouldn't be in the UK if they are not willing to pay their fair share towards our society and the rest of the world should stand up against these ultra wealthy individuals too.
While non-doms don’t pay UK tax on their foreign income, they do pay taxes on their UK earnings, assets, and investments - failure to do this is illegal. Many contribute significantly through taxes on UK properties, businesses, and capital gains. If these individuals leave due to tax changes, the UK could lose out on substantial tax revenue from their domestic activities. Plus, their spending and investments help fuel the economy-supporting businesses, creating jobs, and boosting growth. Losing this wealth from the UK could actually harm the economy more than it helps. The top 0.1% of the UK pay 12% of the UKs annual tax revenue, if these people start to leave like they did in the 70s, what money tree are you going to shake to get the money back?
@bigfisher4354
Mate, you're defending billionaires who are the biggest drivers of wealth inequality, which in itself is the biggest driver of poverty and lack of security in your future so keep defending them if you want but it's just sad.
@@bigfisher4354👏👏👏I had to go to law school to learn this. If the wealthy leave and they have been doing we are more screwed than anything due to Brexit but if the wealthy leave using only tax system which legislation has put in place for everyone to use but not everyone want to become a a multimillionaire. But I say this again, if they go it's not the NHS that people will go to because the NHS will have to start paying just like the shock I got when trying to find a dentist and couldn't find a NHS. I had to pay privately. This is really bad for the UK for wealthy people to leave but when people don't understand Economic because it's not taught to them it's more harmful because we don't have all the information. Information is completely free from local Library and the Parliament Channel is free where I learned alot whilst I studied for my law degree is informative and gives you free access to information which was always free. But I suppose if people want to stay ignorant that's simply up to them I suppose.
Many of them are middle class people who contribute a lot to the society, don’t be misled that only ultra-wealthy people are affected. Without their investments the UK economy is doomed.
Assets still stay in the UK so tax them
Well they don't. Cash doesn't stay. Shares and bonds don't stay. Otherwise all other assets are essentially disposable.
@@Gravadlax-ki7rh 'Disposable' by selling them, not by taking them out of the country. The rich keep very little in cash in the UK and you cannot move property, business assets etc out of the country. I'm a traditional Tory voter but the shift of wealth from British citizenry to the wealthiest during covid was crazy. We were all robbed blind and we need to get at least some of it back.
La la land.
Money (cash) is a blood to the economy. Without it (cash) those 'assets' are dead bodies or 'economically' speaking a cost!
@@Gravadlax-ki7rh their 'assets' will already be hidden in UK tax havens all over the world, i'm sure that Murica, the LAND OF GREED will welcome them with open arms, Murica loves a tax dodger
Remember !! If you tax their assets they can't just put them in the bag and take them abroad!!
Exactly
give me an example of what assets you reckon they should tax?
Exactly mate. Think we’re buying this crock.
Depends what assets . Gold ? Cash ? Stocks and shares ?
Even businesses are easy to move depending on the business structure . a head office can be as simple as a piece of paper and a Post box .
If you own property outside of the UK , selling your UK based property or moving it into a business (which avoids most of these personal taxes) isnt particularly difficult.
@@thinkfuture7722
A return to taxation at source so they pay the taxes from the profits in the country where they are made and not the country where they have a Headquarters.
Assets still stay in UK so Tax them … UK housing needs a correction as its over priced !!!
Assets will go with them properly can take time to sell but they will how many people know that currencies are also assets the UK is bancrupt debt to GDP 150 percent banks are insolvent no deals no loans and no deposits get ready for the commercial properties bust followed by the banking bust
I wont miss them. They never let any of their obscene wealth trickle down to me. 😂😂
It’s not just about you.
It’s invested - they don’t keep it under their pillow!
@@christopheradderley6902 blah blah invest my ass they just extract wealth pay no taxes, buy up property so locals can't afford it and then send their cash into offshore accounts. They don't produce anything.
@@christopheradderley6902Yes. But largely invested in off shore funds via tax efficient (avoidance) trusts. That’s the whole point isn’t it. To keep their wealth abroad so that it’s not subject to UK tax while at the same time living in the UK. I say, live here, pay UK tax on your worldwide income and gains, same as most countries.
@@gizmo5601 you're conflating two concepts; income and wealth. They are not the same. Notwithstanding, even if the parent structure of multiple companies are distributed, the original point stands. 'Wealth' is the investment in the machines, buildings, and debt et al which make up an economy enabling it to function.
So youre telling me there will be lower asset inflation from less blood sucking leeches now? Music to my ears
Bye then
Yeah fine see ya, hope they don't come back.
Not like tricledown works anyway.
The comments here prove that the motive behind taxation is not to help "the poor" but to hurt "the rich".
THIS
Exactly people here prefer to be all doomed than seeing people richer than them.
It doesn’t matter that they leave. What matters is they are not still profiting from people and property from within the UK
So what if they leave! They didn't pay tax under the Tories, so it's not as if we are going to miss the money!!
Who was it that said "there is enough in the world for everyone, but there will never be enough for the GREEDY" or something like that?
Why are people wanting to keep their own wealth considered greedy, but not people who want to take others' wealth by force?
Why would the ultra rich exodus mean anything to me?
And what fraction of people pay inheritance tax?
I am told repeatedly that if I don't like the UK leave, what's different for these folk?
And real estate non value adding SPIVERY getting a pasting again what's the negative?
People like Philip Green, Jeremy Clarkson or Piers Morgan all have Monaco bank accounts
- what of theirs are you going to tax?
If they live here it doesn't matter where they keep the money.
Don't slam the door on your way out, we might be able to finally get things done without the politicians greasing every pole they want to slide their accounts down.
If they dodge taxes like most do let them go
Let them go.
Take their passports away
It's only a tiny proportion who may leave. Completely overblown to try to protect their wealth. If they want to benefit from living in the UK they should contribute a fair amount to maintain the country
Look up what percentage of the government's income tax revenue is paid by the top 10% of income earners. And look up the top 1%.
What benefit you have in the uk? Stabbing? Strikes?
Ultra wealthy can leave, there is small violin in the palm of a very small hand playing a very sombe melody 😢
Good riddance to bad rubbish.
If they try to return, tax them double. 😊
Why would they return? Good luck to them. The UK is against people who want to take responsibility for their lives, not only the rich. Do you know how much you get from the government if you work full time on the minimum wage, have no kids, are not pension age, are not disabled and not a carer? You pay a lot of tax, and you get nothing. Well, maybe you can count the use of the roads. I wouldn't even count the NHS, though, because despite being forced to pay for it, you can't rely on it, and so if you care about yourself, you have to buy private insurance.
they should leave...
"The lobby group I've spoken to ...". Well, they'd be a reliable source of information, wouldn't they?
Next hit the Offshore Trusts with UK assets
"I am hearing" what a load of rubbish. And what in earth does this have to do with Brexit.
Great.
We Don't Want Sociopathic Millionaires and Billionaires here.....🎉
If they the billion or millionaires don’t like what is @bout to befall them then off you go and watch the door doesn’t hit you on the arse on the way out…
Bet they're all Patriots.
That's fantastic news. They're here, not for the UK, but for their own financial well being. Only high end Real Estate agents will be sad. Hopefully, it may bring the over inflated house prices down and thus a domino effect, so young people may get an affordable home.
The UK has the greatest difference in wealth between the rich and the poor in Europe. Why are the ultra wealthy not called oligarchs in the UK. Because that is what they are.
Germany is worse
@@AM2K2 not so. In the developved democracies the biggest differences rich-poor are in the USA closely followed by the UK which heads the table in Europe.
HaHaHa…. This old lie again. lol please, we will get the door
The opening of this interview says it all really
"I've heard in circles that some have relocated..."
Numbers, examples, specifics pls or stfu
Good. Go! Close the tax off shore tax havens next. Then ban money laundering through shell companies buying property in the uk.
They run outside, but try tax them for outside profit
You can’t do that … incidence of tax usually arises from origin of business income.
Ultra wealthy investors my arse total propaganda, I would rather pay more and them piss off, take a walk around Marble Arch and see Wealth dripping from people who pay way less than they should
Good Riddance.
We're also going to restart our own motor manufacturing with the help of our Chinese and Russian allies.
Glad you like it
Don't come back
No Problem!
I'm going to ask the question, what exactly is the super wealthy doing for us in the UK, they use all the facilities we provide through our taxes but don't contribute, we fight their wars for resources and die for them to become even wealthier, when they get those resources by robbing the rightful owners they continue to gain wealth all the time paying a pittance to us and the resource owner, then they have the unmitigated Gaul to threaten to leave, why on earth should I give a Toss what they think or do, they only thing the contribute is corruption by bribing our so called leaders, have i missed anything ?.
They extract wealth from the country, pay no taxes and funnel the money into inflated property prices and offshore bank accounts.
They do a lot for us. A lot of bad.
They invest their money, which creates goods and services and jobs, and they (even the non-doms) pay taxes. The real question, is what do "the poor" do for us?
@@YorickReturns the poor are the ultimate consumers of said investments, without people to buy goods, make goods, pull the resources from the earth non of what you've mentioned would ever be done. if your unable to sell goods then your business is dead in the water, and I refer back to my original statement.
@@YorickReturns no, they don't invest their own money, they borrow money from banks who in turn use the money that was deposited by the not very wealthy, via loans that charge interest to poor people, or in some cases the banks literally produce money from thin air, they don't even pay the same interest rate as you or I, I'm not an economist and I understand the fundamentals, so again I refer to my initial statement.
@@michael-qe4iz The rich often (not always) borrow money from the bank to invest, yes, but that money has to be paid back with interest. How? By being productive!
The "not very wealthy" are paid interest too, if they deposit money.
The government creates money out of thin air, and to the extent that it does, that is inflation.
But do not confuse debt with money. When you deposit your money in a bank, you and the bank are trading money for debt. There is nothing wrong with fractional-reserve banking or even zero-reserve banking. In a free market, there would be a range of choices.
As for loans to poor people, the government punishes banks for not selling loans to poor people and "rewards" (though it's not really a reward) banks for selling them.
What's happened t all Russian oligarchy in uk
Good.
The moving home not business don’t be fooled.
"UK faces ultra-wealthy exodus amid non-dom tax changes"
Oh dear. How sad. Never Mind.
(And RIP Windsor Davies.)
I will be on the tarmac on my knees begging them not to leave on their private jet. 😂
@@jean-lucpicard5510 Do you not care about the effects on your quality of life? Do you care about yourself? Or do you just hate the rich? Be honest now.
Well that's what they were elected to do.
Off you pop...🎉😂👍
exit tax, on the cards,
Only after their best mates have moved their cash
@@atomicbullet-p6i Bit like Abromovich. Pre-exit tax.
Yeah bye - see ya.
What difference will that make they don’t pay taxes so they can politely just go away.
Ive lived here all my life and im 61 in a couple of months. I hate the way this Country is being run and how we are being screwed over. Im working class and may look at getting out myself now as Labour are the pits😡
They all threatened this in 1997, not a single one left.
They're sulking because they won't be able to avoid the taxes they should be paying.
Quite frankly, they can pay their dues or FRO.
😂😂😂😂😂😂😂😂 Lobby Group she spoke to? who does she work for ? what's in it for her? other groups and rich people have said the complete opposite. If people don't want to pay their fare share for services GO and watch the door doesn't hit your arse on the way out, stop squealing and GO.
Landlords are buying houses for invest their money. Why they are increasing rent when the interest rate up. How do tenants responsible for the interest rate rise? If they bought a house for renting landlords pay the council tax. But they ask everything from tenants. The government brings a low for the maximum rent. Tenants are paying rent more than their income.
So. That plumber guy who was def going to leave is now staying. Who could have predicted that??
No more scrounging.
No sh!t, Sherlock ! Nice of you to catch up.
What are the new rules for asylum seekers in the UK 2024?
The new immigration rules in the UK from 2024 for illegal immigrants who have made the United Kingdom as refugees are: Reuniting families by welcoming relatives through refugee family reunions (RFR). In the past five years, the majority of them have been children. Introducing a pathway for visitors from overseas.
Half the people on here are missing a point. It’s not just their property assets in the UK they’re selling up. Who cares about income for real estate agents. They’re relocating their businesses. This has a knock on effect in employment for ordinary people.
I totally agree with you however if you own a business you can mitigate tax through various legal means, example dividends. Those that indeed own their own business and are doing well will not relocate because they can afford to employ good accountants who will help navigate the ,many legal tax loop holes
Unfortunately changing the non dom rules might seem appealing but there are unintended consequences for doing so. Firstly the rules also allow HMRC to tax British citizens for 17/20 years after they leave. These arrangements are generally bi-lateral so agreed between HMG and the other country in question. Frankly the ditching of non dom status may well cause repercussions and if UK non dom revenue>non dom revenue it's going to cost you.
Secondly the London housing market is the only one in the UK that created consistent growth over the last 25 years and that growth has driven growth in other parts of the UK. If the non dom ups and leaves potentially there's disproportionate capital flight.
It's a tricky one and MPs with London houses are hardly likely to want to take one for the team.
Sums about income tax gains or losses are flying around. The amount these people pay in VAT and the number they employ do not feature anywhere
They pay VAT as a business - it doesn't matter who owns the business - a group of businesspeople, shareholders, a co-operative - they will still pay VAT.
But won't the business go if the rich go? So you won't buy, say, a new fridge unless it's from someone who pays a lower rate of tax than the poorest ten percent? You learn that the millionaire owner has sold his business and you refuse to buy a fridge?
Or will you still buy a fridge because you need one? People will still buy the same number of fridges! Nothing changes.
So if we keep buying fridges then we will still need people to make and sell them? Yes! So there is the same number of people employed to deal with the provision of fridges? Yes, for heaven's sake, yes!
I worked as a self-employed businessperson. When I retired people didn't say, 'Now he's gone I'll have to go without.'!
No, they simply went to one of many other people providing the same service. The world didn't end. Nothing changed - they got the service they wanted. Someone else paid the tax I would have paid, and that person got the work I would have had.
The working class and the middle class own fewer assets than they did twenty years ago. There is literally nothing to stop this from continuing. Nothing. Except you. And me. This has been the way throughout nearly all history - mass poverty, with a few rich people who own nearly all the assets. Happy for the kids in your family to go back to this?
I live in England, we’re all devastated by this, trust me.
No, they won’t.
standard common avoidance schemes should just about pay for the ticket, the airplane snacks, gdp of nations etc.
Good riddance to them. How many years did Sunaks wife live here and how much in total tax did she get away with?
Dont let the door hit you on the arse on the way out, good riddance.
They are just being asked to pay the taxes that any other person in the UK would
So of course
They run....
Don’t forget to close the door after you.
If they sell assets prices will fall, if non dom status is dissolved then investment will fall, tax revenues will fall, the country will become poorer
Good riddance. Change the law so they can never come back.
Oh dear…. That’s not good. We kinda need investment right now….
Are we meant to be concerned?
Please don't leave...
Cheaper to stay in a penthouse suite at the Ritz a few months year.
Good riddance, shut the door on your way out
Stay to milk without paying enough into the pot
Made to pay a small ammount more leave after having a hissy fit 😊
Let the go, so they'll probably keep a few more bucks, but wherever they live, there will be unwanted problems, just different ones
Middle class being wiped out meanwhile.
Wealthy groups including ex prime ministers & their associates have gained wealth & assets through business interests from the buying public now they want out they should have to pay an exit fee or pay their taxes
Rich can clear off if that’s what makes them happy.
Good let them go if your going to dodge paying your fare share get out the country .
There is a lot of ignorance here. Any super rich non-dom has their assets offshore (not in the UK) precisely because of the non-dom tax laws in the UK. Holding the assets in the UK is not tax efficient for a non-dom.
They may own a non-UK company that invests in UK property. The company pays taxes in the UK just like a UK company owning UK property plus abroad. The taxation of the non-dom person has no impact on their UK property holdings.
It looks like many people here commenting do not know the legal definitions or tax laws impacting non-doms at all
Most left just before brexshyt due to the fact that if UK stayed in the EU then these big corps would had been made to pay a great deal more tax by the EU ..lol
Don't let the door hit you on the way out, eh?
Does this mean the Premiership bubble's going to burst this year? That could get interesting :))
let them leave... who cares
The government has made so many laws to tax the poor and Not tax the rich.
Well done Starmer
Not sure you understand. The grievance being discussed here is that the rich are being asked by Starmer to pay more.
@@alana8863 Whilst he pockets money in brown envelopes and reduces money for the old and disabled. Beware they will go after the Jews next. The Labour party is shockingly antisemitic. It will just be history repeating itself.
@@alana8863 "Asked"?
hnw people are not slightly effected by taxation, not remotely.
Thats a lie , good try journos
Ultra Wealthy pay less tax than the average earner in many instances , them leaving doesn't matter ... its not a problem , its a bonus.