Pad of employment on taxes

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In an attempt to overcome its conservative predecessor in the efforts made to impose taxes on the wealthy, it has proven a costly target for the work government in Britain. A wave of “non-rotation”-whose permanent homeland is for tax purposes outside the United Kingdom-migrates after the Labor Party has made its origins all over the world responsible for the inheritance tax, with success for the economy and jobs. Chancellor Rachel Reeves is thinking reverse The decision should do this without delay. However, it is likely to be very little, after it is too late, to fix a lot of damage to already.

A 200 -year -old system that allowed residents to announce another country because their tax home was exaggerated The necessary reform. Consultant, George Osborne, stressed the rules in 2017; Behind the Conservative Party, Jeremy Hunt announced last year that it had canceled the regime, starting from April 2025 – as it was devoted to the work policy. The work came to his position designed on Put its seal Once on the change, raise additional revenues where it can. It has closed a loophole, as the Conservative Party has intentionally left an open to allowing the non -flow to avoid inheritance tax on assets in external funds.

These were a brotherly straw for many wealthy individuals who were not satisfied with changing work tax and working tax, such as setting value -added tax on private school fees. Official numbers are small, but many financial advisors and lawyers mention that between a quarter and a third of their non -wealthy customers are Leave Britain For more tax -friendly sites such as the United Arab Emirates, Italy or Switzerland.

The opposite of the IHT change will be another blow to the advisor’s authority just weeks after the government had to do so Scrap plans To strip the winter fuel payments from millions of retirees. Non -periodic changes are popular in the popular base. But the government must accept its mistake and correct it. Exodus offers the largest investor expected 2.5 billion pounds annually the average additional revenue signed by the budget responsibility office from the work base changes. Economy and Business Economy Research Center estimated Last month, if a quarter of the taxpayers left non -UK, then the net profit to the cabinet would be zero; High migration will produce a net loss.

Moreover, this does not take into account the lost economic contribution from the non -wealthy, through investment, creating jobs, spending and charitable work; Many cultural institutions fear financing losses. And non -British wealthy Departure At the same time, it is like family business owners in the United Kingdom It is beaten By suddenly moving the party to reduce their relief on IHT.

Meanwhile, other countries intensify efforts to attract the creator of wealth. New foreign investors in Italy can pay a fixed tax of 200,000 euros on foreign income and assets for 15 years, with no inheritance tax on foreign assets at that time. The Foreign Investor Lobby Group argues that it should have replaced the UK in its inactive system with a gradual system.

It is possible that it is too late to lure the background who left, although IHT may help bend others from follow -up. Therefore, the government needs to find ways to attract foreign investors and new businessmen and ensure that the United Kingdom will remain attractive – especially Americans Mocked the Trump administration. Many financial advisors in the United Kingdom say that the four -year tax incentives have been presented to the temptation of international talents need to be extended To compete with competing countries’ offers.

There is also a strong issue, for a new investor visa in the United Kingdom, to replace a situation in 2022, for foreigners to invest in areas such as artificial intelligence, clean energy and strategic infrastructure. The wealthy guarantee pays a fair share of the tax is logical. But the growth of growth in the UK must be attracted to attract those who can contribute to this goal, not to push them away.