The super rich, tax and emigration

Writing in an article for Wealth Briefing, partner and member of the Wealth Briefing Global Editorial Board Marilyn McKeever examines matters relating to great wealth, tax, and the migration of such persons to and from the UK.

While a potential change of government in the UK could see the end of the non-domicile system, under which wealthy individuals can, for a limited number of years, reside in the UK and pay no taxes on their wealth and income, provided it is not brought into the UK.

Marilyn McKeever comments:

‘A report by the International Inequalities Institute of the London School of Economics suggests that the vast majority of extremely wealthy people in the UK would never leave the country for tax reasons because of career risks, familial upheaval, attachment to the places they call home (mostly central London) and the perceived stigma attached to tax migration. Some described tax havens as “boring” and “culturally barren.” London-based participants were eager to retain access to the city’s private health services and private schools as well as its cultural assets’

To read the full article, please visit the Wealth Briefing website.