Miles Dean comments on the implications of removing the non-domiciled tax status
Head of International Tax, Miles Dean, comments on the implications of the Labour Party’s pledge to scrap the non-domiciled tax status, in the Financial Times.
Miles’ comments were published in the Financial Times, 20 November 2023.
Miles explained that “plenty” of clients are already considering leaving the UK in light of the potential changes, stating: “I have clients who say, ‘What on earth is going on in the UK? Why on earth would you not want rich people coming here and contributing to the economy?'”
He further discussed how the UK is falling behind other countries in this arena, adding, “You want the City of London to be vibrant and the UK to prosper. But, when many other countries have got regimes, we seem to be shooting ourselves in the foot repeatedly.”