Press Room

17 Jun 2024

Miles Dean comments on Labour’s proposed tax plan in the Financial Times and The Independent

Partner and Head of International Tax, Miles Dean, comments on Labour’s proposed tax plan, including £8.6 billion in tax rises, in the Financial Times, The Independent, IFA Magazine and WealthBriefing.

Miles’ comments were published in IFA Magazine, 13 June 2024, WealthBriefing and The Independent, 14 June 2024, and in the Financial Times, 15 June 2024.

“Virtually all politicians vow to tackle tax avoidance, but Starmer neglects to mention specific areas of tax the Conservatives have not dealt with during their term in office, which makes this seem a glib throwaway.

“The non-dom regime is being significantly overhauled per the Conservative Budget 2024 and we have already seen non-doms leaving the UK in droves, which was perhaps inevitable given that Labour is so far ahead in the polls.

“Labour’s plans to remove the remaining benefits of the non-dom regime left in by the Conservatives will almost certainly cause many more non-doms to leave the UK.

“It is doubtful that the changes to the non-dom regime will have the impact Labour suggest, as the number of remaining non-doms will fall dramatically as they can so easily relocate to friendlier jurisdictions.

“Starmer’s pledge to keep taxes on ‘working people’ low needs proper scrutiny – who are the working people he refers to? He pledges to end the conservative chaos, but given recent infighting within the Labour party as regards nuclear disarmament and union reaction to the VAT raid on private schools, it seems likely that they’ll deliver chaos in spades.”

Miles Dean

Miles is Head of International Tax at Andersen LLP. He advises privately held multinational companies, entrepreneurs and high net worth individuals on a wide range of cross border tax issues.

Email: Miles Dean