Europe Lost Another Tax-Friendly Country
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Join us as we delve into the recent abolishment of the non-dom regime in the UK and its implications for individuals and businesses. Discover why this tax-friendly system is ending, how it affects you, and explore alternative options in this changing tax landscape.
BUT, When one door closes, another one opens, and there's a new option. While the UK might not be an option for some, there's a new opportunity on the horizon... one that most people haven't heard of. We'll be discussing this, along with all the other new and updated tax deals, both good and bad, at Nomad Capitalist Live.
00:00 Start
00:35 Understanding Non-Dom Tax Regime
3:07 How Do Different Tax Systems Work
4:52 What is Actually Happening
8:12 New Tax Regime and Incentives
13:51 Alternatives to the UK
16:25 What's Next?
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Greedy rich want to get more & pay less tax..please leave UK & go to tax havens with other greedy selfish people🤔
We have a different view. Greedy socialist state does want us smart people to pay for everything without giving us anything..
Sigh... Your tax would be very low in general if it wasn't for government regulations, regardless of tax bracket
Why call people greedy? It is a basic hunan move to make choices in ones own best interests. Those that call others greedy appear entitled, which is how many view people with your sentiments. Rather than wasting energy being concerned with the financial status of others one should work on improving their own situation.
So not wanting a large chunk of your own money, already subject to tax, further taken away, is somehow greedy?
Greedy people want to keep more of their own money that they managed to make IN SPITE of all the government structures and taxes.
I'm British, and I can tell you, this country is FAR from "tax friendly".
The country is broken, and it's getting worse. Social Cohesion is falling apart:
- We have £2,500,000,000,000 of national debt...
- The National Health Service is falling apart, and you need to wait for 18 months for a specialist appointment.
- The government let go of almost 30,000 police officers...so crime is increasingly unpunished...
DON'T come here. I promise you. It's a mistake.
The first-step in good Governance would have been to get rid of the House of Lords and why something so useless and a burden on the taxpayer is beyond me. If the smaller things can't be taken care of, how do you expect government to get the big things right?
The point is it was tax-friendly on the basis of income and similar taxes for the non-doms who lived there.
Time for the Vikings to return and plunder those sad saxon bastards
non-doms wouldn't care about any of that
@@MrKeyframesall parliaments or Congress are a waste of money and where as lordship has only caused wealth, the poverty is in industry technology and science.
lol UK citizens are fed up with the increased taxes no one gets rewarded here instead most of the taxes goes to helping other countries with war and then to help people that enter illegally. Its such an unfair system
It's always peculiar to see people who oppose their government and how politicians spend money, who realize that the government does not truly serve them, but somehow believe that the same politicians should dictate who can and cannot set foot on a piece of land...
Yeah, sounds like my home country, the United States.
You get nothing for your taxes in the West. Nothing.
We're really all just peasants working for the elities. Nothing has really changed. We just have this illusion of voting power in the West. It's all a lie.
Same in Canada. Billions go to Ukraine, while we can barely afford the mortgage and groceries
There is a reason why London is both the money laundering capital of the world and the financial capital of the world. There is a reason why all the big British banks have a long list of money laundering and tax evasion. There is a reason why all the big accountancy firms are HQd in London. There is a reason why London trades more USD per day than the entire USA - in fact London makes up 40% of all daily global FX transactions. There is a reason why London has the highest density of banks in the world. There is a reason why 1/3 of all offshore tax heavens are British overseas territories. There is a reason why the UK has arguably the best secretive laws and libel laws in the world. The UK is the best place in the world to store your money due to the large web of financial services it offers. Unfortunately, the regular Brit never sees a penny of this wealth.
Of course they do.
Yes, if all current UK overseas territories are summed up (including former colonies e.g. S'pore and HK) then the UK would account for approx. 25% of global offshore wealth. And the vast majority of the tens of trillions in offshore wealth is linked to tax evasion and ML. If you include the US into the equation then the share (UK and US) rises to 40%. The UK, facing declining empire, turned its offshore territories into vehicles to park global capital and uses the City of London to facilitate this - all with the semblance of legality. The big fish can basically write and re-write the rules to bend reality as money talks, so the tax authorities have to crack down on Joe Bloggs earning £100k with a rental property i) just to show they are doing something and ii) to fund proxy wars.
repeating yourself
@@klmn2000 To put that further into context, the global GDP is approx $100T per year and there is an estimated $35T of offshore/invisible wealth - the majority of which goes through the city of London. It also isn't a right vs left thing, Tony Blair (left leaning PM) famously brought a house in London for £9m through on offshore shell company. David Cameron (right leaning PM) made £30m from an offshore financial services company - funny enough Lord David Cameron (as he has been knighted by the King) is now the unelected foreign secretary of the UK, second to only the PM. The entire system is deeply corrupt but I guess don't hate the player, hate the game. Sure the British colonial empire has ended, but the British financial empire is alive and kicking.
@@bigfisher4354 Yes, there is a database that tracks this (name of which doesn't come to mind presently). They estimate figures similar to what you mentioned. I think it has exploded higher in recent years with ZIRP/NIRP so is probably more like $70tn. The City of London makes its own rules the MPs are just along for the ride. Money talks.
I left years ago and I feel a mixture of anger and sadness at how they are destroying this country, I can't return, its getting ever worse
I feel the same about the USA. So glad I left that trash country but part of me is both sad and mad because who wouldnt want to like and support the country they grew up in. I'll never go back though the American dream is no longer in the USA. Even making great money, inflation and taxes take everything away from you these days. Moved to south america and am living like a king now and can actually think about starting a family.
I moved to UK a decade ago. It was one of the best decisions of my life, as I was treated much better than in spain.
Unfortunately, UK is moving to the wrong direction, and I have recently moved to Andorra.
What's Andorra like?
@@notanostrichcarter2297small, very very small.
I come from an immigrant family, I am the first of my family to be born in the UK, trust me, this place is dead, when people like me start thinking of moving abroad, you know the show is over!!
I'm a dual national by birth and from what I've researched, there is no shortage of options out there. I'm trilingual and am learning another two languages in preparation for going. I don't plan on setting my foot back in the UK ever again. I'm not interested in any E.U. country, I just don't have the patience with these high tax, huge red tape countries. To start a small business you need to grease half a dozen government departments..no no.
The world is big and there are a lot more opportunities out there. Why stick with these ass holes? I want to go where I'm treated best.
I can across Andrew post 2008 banking crises, back then it was just a simple blog, and I would read his articles and it opened my mind up on how things worked. I'm really happy for what Andrew has created with Nomad Capitalist, I wish him all the best.
Totally agreed. The EU is out of control time to go. I am selling my house and getting out in the next 6 weeks
Where are you looking to go?
@@michaelearlgrey
Places where I would spend a good significant amounts of time? Morocco, Turkey and Pakistan.
But I need to figure out where to base my tax residency.
Simple plan, but those three countries meet my requirements and they also give me quite easy access to parts of the world in which I can see myself regularly visiting.
I've no interest in North America or the E.U. Don't want to own any property there, nor do I want to keep my money there.
@@SaqibAhmed-kc9ho me and a friend are in similar circumstances and we looked into Italy for tax residency because it's a flat 100k tax rate. It's good weather too
The socialist paradise 😊
"If you like the weather in the UK..."
😂😂😂
"If you like the food in the UK...."
With global warming... maybe in the future
Given what's going on, plus the tax changes, why someone who can leave would want to stay in the UK is beyond me.
Ireland has a fantastic city-centre camping program in Dublinistan.
We have same in every big city in the states! Lol😂
And high taxes and high cost of food, expect to pay 40% more for supermarkets shopping in Ireland, even at Lidl
@@voice.of.reason
Even at LiDL??
Better shop at ALDI then!
@@87solarsky Aldi is the same. They even have Iceland in Ireland. You will pay €1.50 for an item that has £1 on the packaging. Same with the Irish Poundland shops called CENTZ. £1 items (if you can find any now) are €1.50. Exchange rate for £ to € is about 1.15 most of the time, definite huge mark up.
I'm a UK citizen who wants to relocate! I've been living in Egypt for the past six months, but need a change...
Madagascar is a fantastic country
@@passivenomads I really want to visit!
Cambodia, Singapore, even Hong Kong is ironically more free than UK
@@wrathford check out
passive nomads
@@EzraMerrOh god no. Capital punishment, criticising of authorities gives you punishment in those countries.
nigel farage talking about why the uk isnt doing more to invite people to go there just sounds like an oxymoron in waiting
I lived in the UK in the mid-1980s, but why anyone would want to live there now is beyond me. Even at zero tax rate, I would not live there, period.
I want to leave - where’s good now?
You're right mate
@@nikireynolds5200 Florida! Only downside is the humidity in the summer months (but climate control is everywhere).
I just love Nomad Capitalist. ❤
🥰
thanks for this information.
You basically had people taking the mickey with the non-dom status.
You have the owner of the Daily Mail, who is literally a hereditary peer, but is a non-dom for tax purposes. He doesn't even have to give up his Viscount title to do it.
You have the former CEO of HSBC, who was born in the UK, choosing to be a non-dom while he was CEO of what is officially a UK bank, working in the UK.
And then the wife of the Prime Minister is essentially forced to give up her non-dom status despite her genuinely being from another country. She wasn't born in the UK, she didn't study in the UK. She simply married a Brit, and his job being particularly public meant that that her status as a non-dom became a political liability.
i.e. There are people significantly less deserving of non-dom status than Mrs Sunak, so maybe her having to give it up helped make it a political issue.
I totally agree about Montenegro being wishy-washy on gaining citizenship status. I currently am a USA citizen and legal resident of Mexico for 2 years working towards citizenship. I was just about to pull the trigger a few weeks ago and have a zoom call with a specialist in Montenegro to branch my online marketing and UX design business. When I mentioned that I have eventually wanted to live there and work towards a citizenship, he said that it was very difficult and complicated to do. Honestly that’s a dealbreaker for me. Why would I move my business into a country, provide jobs pay taxes and not be able to work towards citizenship with confidence? Also, you have to reapply for residency every year.
I had this conversation with someone yesterday from MN. They told me that it is very hard to gain citizenship in their country but very easy to get Serbian citizenship. You just stay there and keep renewing your stay and that's it.
@@SabineWald_NowHere
Hello, I hope your day is great 😊 Yes I know MN has you renew your stay every year and no thanks for the long term. I’m not interested to run a business, pay double taxes or live in a country that I cannot work towards citizenship and have to renew a stay because if they feel like it, or in a drastic situation they can kick people out of countries or when trying to enter, may not be allowed. I’m not desperate to live there like Andrew mentioned and only looking to diversify. Many other reasonable options than Montenegro.
Citizenship is not a right. What Americans don’t understand is that European countries are based on ethnicity: all the money in the world doesn’t change the fact that you’re not one of them. I prefer the UAE way - permanent residency but no citizenship. You’re not one of us. This system existed for merchants even in ancient Athens. Cyprus has been ruined by their citizenship for money scheme - it doesn’t look like Cyprus anymore. It’s just foreigners everywhere. Sorry. I don’t want to live in a “melting pot”.
@@SabineWald_NowHereSerbia is awful, to its own citizens nonetheless😂
@@mithrandirthegrey7644 "European countries are based on ethnicity" Once upon a time. Not today.
Thanks for all the work you do
Thanks for watching! 😊
The idea of Nigel Farage giving a talk on why the UK isn't welcoming to foreigners is the definition of irony (and hypocrisy).
He doesn't mind foreigners coming to the UK legally. He doesn't like illegal immigration.
He has a German wife
@@arthur1670 had...
@@tomriley5790 are you sure ?
Free room and board for those who come by boat... All welcome..
Thanks for sharing 😊
Turkey needs from expats cheap, affordable 2nd hand luxury cars above 2500 CC to 6500 CC cars, SUVs, Jeeps, Trucks to be sold. Please conduct those kind of car businesses in all throughout Turkey.
Love your videos. Keep speaking the truth. Thanks
Australia is going the Marxist route and taxes are terrible, but when you get a welfare state …that’s what you get. More taxes.🇦🇺
The only advantage of the new regime is it's open to UK citizens and I might even use it myself.
#metoo
So you think Viscount Rothermere and Stuart Gulliver (the former CEO of HSBC) weren't UK citizens? Both were born in the UK, yet managed to become non-doms. And the Viscount is an hereditary peer, yet somehow managed, despite owning a stately home, and being a "freeman of the city of London", to persuade the tax man that he's not UK domiciled.
@@michaelleiper Non Dom is a weird status as it depends on your father's tax residency and Rothermere's apparently lived in France or claimed to do so. Gulliver's case doesn't seem to have anything to do with non dom status at all just tax residence as could happen anywhere. Non Dom is unavailable to 99% of UK citizens no matter how long they've lived outside it. Non Dom is archaic and probably should have been abolished long ago but the replacement needs to have longer duration, say ten years to be competitive with other jurisdictions.
Good Vibes Only, Andrew!
When you have to pay 4000 quids a year for energy bills, you now that this country is dreadful. Not to mention the rent spikes and lingering inflationary effects of the tories' flawed policies. Unsurprisingly, young skilled Brits are emigrating out of the UK in unprecedented numbers. Let's say you are a teacher, you can go to Australia with a 80k 90k usd annual salary and the weather is absolutely more favorable.
I'm a UK citizen. There are some good points about this country but i can think of at least 20 other countries that treat you better. I would leave now if i could but definitely leave in the future.
Thanks for sharing your thoughts. Where would you go if you could leave the UK?
@@nomadcapitalist I'm leaning towards Dubai as some of my family have been living there for 8 years, schools are good (I have one child, not school age yet), and there are great opportunities in my field of work (Project Management).
Also, the incoming Labour government are set to impose a 20% tax on private school fees which will make living here too expensive to justify.
Once an increase in taxes starts who knows what is next?
They have to squeeze money from those that have it, because there are now a glut of recent immigrants from non-European countries who are on the dole, with multiple wives and children...
I don’t know, tell me.
@@joetheboy04 I did not indicate I knew I was asking others like yourself!
@@jsbarto1 best comment I've read on here for some time.
Revolution.
AH, you might want to make a video at some stage of the European countries that are charging exit visas. Norway is debating a 38% exit tax. Germany has an exit tax of 27% and France, Spain, Denmark, and Estonia also have exit taxes. I just don't see any advantage in moving to Europe any more.
Yikes that is scary. Thanks for making me aware.
Gosh that is bad
Omg that is bad, Thank you for sharing this.
Any proof? I'm from a country on your list and your claim seems like a BS.
Take that exit even after Brexit
I'm from London and moving to cape town 2026 this place is done
I heard South Africa was falling apart from corruption after their white genocide.
The UK is toast
Awesome. Britain England London. You spot on politically Nomand Capitalist.
One tiny possible sliver lining in the cloud, for UK domicile-of-origin UK citizens, is that there might (might - it is still being discussed & the details fleshed out, at the moment) be a way of escaping UK inheritance tax by way of changing tax residence, instead of the extremely difficult process of changing domicile to a domicile-of-choice. And UK IHT is at a ridiculous 40%.
I'm not betting any money on that happening, though.
why you have 2 accounts posting the same thing?
@@MrJontidy I don't
This helps inflation if you think about it.
The less major companies can gain from a country, the more lieve.
The more people that can hold on to their jobs.
Uk wont allow you to have the interest on investments. Only the first £500 is tax free now.
It was all taxable before, think yourself lucky you have a tax free allowance at all! It's still £2000 on savings interest, which is quite generous at 5%. Going back to the 80s, bank savings accounts were paid net of interest tax directly, but building societies paid gross tax free interest. Later on, they had to also deduct tax on interest.
Actually its a good thing they have changed this as the nom dom own too much real estate thats left empty, most nom doms do not do anything good for the Uk economy
Dead country. This time next year I'll be booking a call with you guys , if not before 💯
Do a video on Hungary
We have talked about it in our community post, check it out!
@@nomadcapitalist on it
Another one :(
Sad times
Thank you Andrew
1.2 Million people immigrated to the UK last year 30% of the population wasnt born here. Pretty clear that the UK does not have a problem encouraging people to come to the UK.
I've been living in Hungary for 5 years as a pensioner and don't pay any taxes. But the sales tax of 27% is already very deadly for my budget, so I'm thinking about moving to the Philippines where I get more for my money. The only thing that worries me is the medical care.
Normally if you like EU country you can only go there if you have residence permit. You can germany or Spain, England, or Italy. Some of my grandma family come from germany. That why I went there. Germany have high taxes 30% company tax.
Interestingly, the non-dom status is disappearing, but if you are a UK citizen who has lived outside the UK 10 years or more, from 2025 you have the possibility of not paying any UK taxes at all. Only the taxes for the country you live in - so it seems key as an ex-pat UK citizen to find a tax-friendly country to be based in and never return.
If you move to another country you declare your tax residency there, next time UK taxes are due you write to complete the non-residence form and if you pass that test based on number of days and other factors you are non-residence so do not need to pay UK taxes. After approx five years being non-resident you also are not UK domiciled. This is what I read but where did the 10 years or more come from and what is the significance of 2025?
This is just relocation. The non dom status allowed you to live in the UK for a decent amount of time without paying worldwide income taxes at the disgraceful UK rate
But they can get you if you own a home for children attending boarding school, for instance.
Does this include income earned in the UK?
@@homodeus8713 That just reduces the number of days you can spend in the UK in the year, there is a flow chart you can work through.
Good points and UK still worth it with Ireland to be by and work on the Irish living. No matter what anyone says I still see UK with so much potential and home base with multiple houses and businesses. However nomading in Europe while spending more time in Ireland since 2023.
Can you answer to the risk of packing up and leaving to freedom and then losing that freedom option among other options slimming away. Then one would be left with no options and unable to go back to where they came
Social services (including health etc etc) are provided to people who live here (roads, garbage collection, policing, fire etc) if you moved your company to the UK you can sponsor yourself with a suitably paying job for your company...
Well done Europe.
And you can’t get your VAT back at the airport
UK perspective on political considerations WITHOUT GETTING POLITICAL:
The curent govt here will be out on their ear after the next election (that they are forced to call no later than January) and hence are deliberately leaving a mess for the next one. After the election expect this set of changes to be revised to be more attractive, however between now and the election both parties will talk tough on wealth and tax.
A bvi company with a UK and Switzerland bank accounts 😊
Are countries' attitudes towards globalization changing? Perhaps countries are saying fug it, we don't want people to come here? Globalization might be dying.
They want the criminal illegal immigrants, not the hard working wealthy investors.
@@MrEdrftgyuji Heh, good point. They probably secretly don't but they want to appear to their voters that they care about that sort of thing.
The u.k economy is sinking creating larger wealth gaps, the electorate 50% are landless and there is enormous pressure to raise taxes from.those who have more regardless if having more was with more effort or effortless. Keep your wealth your money away from.the u.k!
Rearranging deck chairs on the titanic
Is the entire earth the Titanic?
It's been feeling that way, yeah. Or picking a different lifeboat with holes in it.
If I'm not a UK citizen and I don't live there but have a UK based ltd will it affect me?
Malta is so fair and correct with inheritance tax.Just that alone is a diamond in there crown of jewels. So on principal and reflects a permanent positive mindset.The government employees are so human.
True these bad ideas are all on poor people who believe in very liberal morals
@@elasticharmony i am surprised at its cruelty and injustice. Its actually disgusting.
Tax Friendly means Working for 15 years only
I don’t pay tax in the UK. I earn 12.5k 😅
There are other routes to gaining UK citizenship, which is something the Home Office forgets.
Go to a British Overseas Territory (e.g. Gilbraltar, Cayman Islands, Anguilla) or one of the Channel Islands and run out your time to naturalization there. It will take a bit longer in some cases, but you avoid this issue.
There are two places left antarctica and space
I know loads of people moving to Dubai - the UK government have made it cost effective to move there. The TAX system is out of control. Tax's are everywhere and they keep increasing.
Would this affect the Caymans?
No.
What actually is the value proposition to live in the UK? Can someone explain?
There isn't
Nothing. I'm English and left three years ago.
Nanny state
The Potato Royalty. Tax in potatoes and become an exile.
I can`t even imagine an Irish person who will want to immigrate to Euro India (modern Great Britain) It`s a fairy tales.
There is still the innovator founder visa in the UK if you are a tech bro and your idea can convince any VC or join an incubator program. Nigel Farrage😂 the hero with the great Brexit idea that lowered UK GDP growth 2 points per year, desolated UK farming, replaced French and Polish with Nigerian and Indian Immigration and dropped the UK passport value.
Channel Islands.
england has fallen.
except city of london where the shait begun...
The reasons that non-dom status was unpopular (hence why it's being abolished) are because it allowed wealthy foreigners to benefit from the many advantages of living in London (primarily) without contributing to the upkeep of its infrastructure, and because relatively little of the money that non-doms spend ends up in the general economy, where it could benefit the population at large. That said, the wider issue is that the UK economy in concentrated in a surprisingly small number of sectors and has a tiny manufacturing base.
If paying six figure sums in tax is "not contributing", then sure.
Unpopular with whom?
@@michaelearlgreythe British electorate, of course! 🙄
@@nomadcapitalistthat may be true of people like yourself (who make a point of paying a fair amount of tax where they live, as you've stated in other videos), and may also have been true historically, but the public perception of non-doms is that many of them exploit every tax loophole available whilst enjoying the cultural and networking benefits of living in London.
@@nomadcapitalistpaying to whom? Clearly it's cheaper for them to pay that than to pay taxes as a UK resident or elsewhere.
100,000$ get in Italy or Greece? How ?
Thx
What he said is that you can agree to pay "euro100,000 for each year for ten years as a annual tax". So you may normally pay more than euro100,000 per years so you can pre agree to a tax rate.
Does this effect Balkans?
What about don’t cry 4me Argentina???
We covered this: th-cam.com/video/UYs4DCEsdBI/w-d-xo.html
Andorra, Andorra will always be tax friendly
Italy a tax-friendly country? Not for the average italian.
But for those just moving to Italy it is.
@@nomadcapitalist It isn't common knowledge, Italians are subject to one of the most onerous fiscal systems known to humankind. I can just imagine how most of them would react to this piece of news.
Agreed. I'd love to move to the UK permanently from the US..... But there's no way short of marrying somebody from the UK unless you are rich.
Same vice versa UK to USA, unless you are an illegal migrant. I'll show up on the mexican border with no papers speaky no english, and you can come in via France on a boat to the UK also speaky no english and have no papers. You will immediately get put in a nice hotel with free phone, spending money, healthcare for at least two years and not have to work
Plenty of ilegal immigration going on, there's a minimum salary if you move to the UK.
I'm working hard, so I will get your help. And find a new place to call home
We will gladly help you find a new place to call home!
Loved your last interview with Nigel Farage, Andrew. Personally, I believe the UK could benefit from him right now in this “lack of direction” of the current times. The UK would benefit from an Orban figure before the wef sells it completely.
He screwed the country and then left...
@nomadcapitalist I love the channel. I would like to see a series on tax friendly areas similar to us cities such as a video Washington similar cities, another video on Hawaii similar regions, etc. Thanks for the video.
If I was born in US, but have dual citizenship to UK since my mother is from England will this affect me? or only if I move to England?
if you've been away for more than 10 years, it makes no difference - just don't own a house in the UK
No difference, of you move to the UK it will likely affect you
Hopefully less people coming to the uk just pump house inflation, it’s out of control compared with wage inflation
I watched enough of your videos to know paying the uk £100000 is a waste of time and there is better options where youre treated better
It's true, there are certainly alternatives worth exploring. Finding the right fit takes research and experience, which is where we come in to help guide people toward options that meet their needs.
This is going global. I laugh at those who are trying to find a safe haven 😊
We covered this: th-cam.com/video/XkL-DTK_hKs/w-d-xo.html
There's a Big world out there, amigos.
Live, your Life, as if someone left the door to The Barn, WIDE OPEN 👌🔥✌️🌪️ ~🐎 🌪️🐎 🌪️😅🎉💯🙏🤣🙏
When one door closes, another one opens, and there's a new option. While the UK might not be an option for some, there's a new opportunity on the horizon... one that most people haven't heard of, leave a comment If you want to learn about this.
We'll be discussing this, along with all the other new and updated tax deals, both good and bad, at Nomad Capitalist Live: bit.ly/3TE0iPm
a video on CFC rules is overdue please! dubai, Europe, KL
@@sandrokern7981 Sounds like a good, very specific topic for a client engagement. www.nomadcapitalist.com/apply
Yes am interested.
The U.K. citizenship is now terrible since Brixit. You'll be better investing and get a citizenship in other EU countries!
Theres always loopholes as like anywhere in the world
Tax Avoidance is not a crime
Only tax Evasion is criminal
Wealthy pple including uk ministers have accountants who help them to keep their money by avoiding tax
This is well known.
Unfortunately, if the leads get their way, they're all going to be taxed
Be great if this man had a hart and mind transfer and helped people spend their wealth productively on others improving lives we-wherever they decide to live.
EU countries have too much money, too many consumers, not enough workers. I am not sure if things will change in Ireland soon either. The non dom regime always sounded too good to be true because it is. And I believe non Western countries will phase out benefits whenever they need less attractivity. I like your strategies on spreading the risk as much as possible and the perpetual traveler can be a very convenient lifestyle if you're wealthy enough to justify being bothered by not having a single place to settle.
Gamblers don’t pay taxes on winnings. Which is solid for poker players. Not my thing, but good for them.
by-law officers and other political officers came to a farm and asked the owner if they could inspect his farm, he thought he must comply to the legal artificial political personnel, so he volunteered to allow them to do their business on his property. for a few years they proceeded to accuse him of things he was doing are wrong, not to their liking and that he should do it the way they wanted, having to buy new things and changing building structures etc... he did everything they wanted. they then ordered him to shut the farm down, he had been running for over 40 yrs, never causing anyone any criminal intent, never causing damage and injury to anyone growing potatoes. so he got very angry at the legal by-law officer, just to act arrogant and totally mean, she said to him; if you had not allowed us on your property we would not have been able to do anything. the whole financial corporate legal civil political system, it's departments and services are businesses, that are only voluntary!
is the financial legal corporate system trying to hide that they are a business, that is only voluntary! should any corporation, business, service, have authority to force anything to do business in their "jurisdictional by-law authority" it's codes, rules? mcdonalds,? wendy;s? the corporate health department? the polls department? the lobbying department? licensing department etc... it's president and stock holders? popeye's chicken, it's stock holders? force your children to act as a slave to any corporation, business, service? this is what hitler did, stalin, lenin etc... the birth certificate is a corporate legal business, signed by the corporate registrar general, used as legal jurisdictional authority over any child and it's property, that has one. when any business wants to trick anyone to volunteer to their jurisdictional authority in their business, ask them to put in writing and send it to you. just state you do not want their business service, they may take you to court, before a jury of men and woman, with proof, state why you do not need the business service they offer. creatively remove the understanding(standing under) volunteering, consent into slavery, choose to be creatively free.
Some are already adept at Common Law and have taken matters into their own hands and living by common law. But it is a huge learning curve and one has to know what they are doing.
@@nicolelouis8968 only with a jury court can there be a fair trial, to remove any debt illusion where all
authority(dominated)-slavery; when debt illusion is forgiven, people are free from forced to act as another wants them to, free from the master and slave illusion, they are then also free from accused as good and bad, they are free to be the i am that i am
pollution; when all people are responsible for their own garbage, they do not want anything that can cause them their family, friends and nature any damage and injury. all people making pollution from their businesses do not want it on their property. they pay a debt illusion for someone to take it away and put it somewhere else, where it causing damage and injury.
suffering; when anyone owes a debt illusion, people use terrorism, threats of torture and destruction, suffering, to try to force another to pay debt illusion.
wars; look at any 2 people arguing, warring, ask which one thinks the other owes a debt illusion, then the one that thinks the debt illusion is owed, tries to inslave others into fighting it's war/hatred with it
murders, drive by shooting, debt collectors, someone cheating, trying to hide a debt illusion
evolve from
I adore Nigel!
I think the extremely wealthy, and greedy, don't belong in the UK. Best to have a smaller discrepancy between rich and poor. The greedy rich have whole world to take advantage of until other countries start caring more about the affects upon their citizens than the money. As usual I'm sure they will be just fine.
Anybody see the irony in moaning about immigration to the UK, whilst saying the country is broken and you are leaving? Where will you go and not be an immigrant?
PS. Farage is a huge part of the problems we face in the UK. The man is a total fool!
Thanks for sharing this information!
As someone who supports reducing Wealth Inequality, I would love to hear from someone who can explain the other side of the argument (in a kind way!).
For me, I’m not against people earning and keeping their wealth. But I think attitudes of avoiding Tax (even legally) is something millionaires must change!
Ultimately, the people who buy/use your services must be able to afford to do so, therefore having Wealth redistributed will help reduce cost of living, allow more people to own assets, and therefore help drive economy.
If we can shift attitudes around tax, it will contribute to a better world.
No bro, society can't function that way - and if you try regardless it will collapse like the Soviet Union.
The *ONLY* way citizens of a country should acquire wealth is through voluntary exchange or inheritance. Any other method - such as welfare transfers from the government - decreases society's productivity and competitiveness. A small amount of taxation is necessary for Defence, the courts, police, etc. But any services provisioned by government are far less efficient than private alternatives and drain the country's productivity and wealth.
It is an incentive to not grow the average income of the citizens. Instead of solving structural problems, which would then increase citizen earnings and thus increase tax collection (without having to raise taxes), governments are then empowered to take from people that earn more. Do the math: calculate how much UK would collect in taxes if they didn’t have a country that is not only London. With some exceptions, only London is considered developed. Wages outside it are outrageous.
And if you feel that one person paying EUR 100k in the Italian lump sum program is taking advantage, do you think they will use more than EUR 100k in government services? They are not the people that need the state. The state should work towards increasing the wages for the average citizen instead. Otherwise, they also reduce consumption, further decreasing taxes collected. This is the result of working with rent extraction instead of real entrepreneurship. Real businessmen do not fear higher wages - oh, I also forgot that western governments are interested in worsening the living standards in developing countries, too. Until these people aren’t voted out, we can’t complain.
@@richarddobson4marrickville The key here is privatisation WITH competition. Without competition you have a monopoly. This is what you are starting to see with the mega companies around the world and in the USA that own so many different industries and sections of the economy that there is simply no-one that can compete. We are moving away from a capitalist economy to a corporatist economies where everything from people, services, money and governments are all controlled by a handful of monopolies.
Thanks for engaging in this conversation! I’m happy to discuss the other side, because as a scientist, it doesn’t sit right with me to have one view without considering others.
Here is how I see it (and happy to be challenged). During the pandemic, almost across the world, the governments injected large amounts of cash into their system (in the UK that was £16K per UK adult) generated a £700 billion deficit for the UK since the start of the pandemic. However, UK citizens are not £16K richer. They used this money to pay for rents, food etc. This cash flow therefore transferred to landowners/mortgage owners - let’s say ‘the rich’ for simple terms.
If the rich has now an increase in spending power, and they don’t use it to buy luxury goods, they are going to buy assets. But to buy assets, they will take this from the Middle class, shifting wealth towards the rich. More cash in the system means more money to compete for natural resources, therefore this drives up inflation (see house prices in UK since 1990s).
Everywhere in the world we are seeing drop in living standards (Not just the UK). But stocks markets are doing great! So fall in living standards, more people in poverty, but businesses make larger profits than ever? It’s not a question of productivity?
There are stats to show in the UK that homeownership in the UK under 30 has fallen lower than post war period. The government says it’s a supply and demand problem (which in part is true), but 1% of current housing is unoccupied (30% of which are in London), and several thousand are tied up in Airbnbs - a contributing factor of not having enough homes. If the spending power is with the rich to buy assets, and profit from this, wealth inequality will never stop.
So why would we want to improve wealth inequality? If more people across a population had wealth, more people would have their own houses (paying less rent), cost of living will fall and citizens will have greater spending power.
Increasing wages, will only drive inflation, it won’t make the economy better!
Therefore, taxation on the rich is important. (I’m not saying take all the money!!!) - but there needs to measure that discourages purchasing of all the assets by a single few. It’s probably the single main contributor to falling living standards.
And millionaires should support it! If people have more wealth (assets not cash), their spending power increases contributing to a healthy economy! It’s essential!
For me, I’m from a low socioeconomic background. I got 90% degree, studied at University of Oxford for a PhD, got a job as a drug discovery scientist at a big company. And I will never own a home, nor have children, because I’m outcompeted for every asset as I don’t have money to inherit. But at least I can live and afford my rent!
I have the best case scenario in my life, but there is no means for me to change the situation. What about those who don’t get further education?
The UK has one of the highest Income Inequality in Europe, and the 2nd highest in the G7 (after the USA), with predictions of the increase rising in the next 5 years.
However, Wealth is distributed much more unequally in the UK. In 2020, the ONS reported the wealthiest 10% of households held 43% of all the wealth in Great Britain in the latest period; in comparison, the bottom 50% held only 9%.
Tax reform is essential. Tax avoidance must be viewed as a wrong. But Tax should not mean take all your money!
If you are uncomfortable to be taxed above £10 million for your assets, remember UK and US have a Vagrancy act (charging £2500 for being homeless, or sent to prison!) for having no money. It’s support from you guys that change the world, just needs to have a shift in view.
@@MusMoroglu Bro thanks for your long comment and I am in the same boat as you with regards to earning a high income in Australia (top 10% income) but still not being able to buy a house because prices are insanely high. But I don't view that as the fault of the rich - I view that as the fault of the government. And the Central Bank. You seem like an intelligent chap. Please listen to "The Creature From Jekyll Island" on Audible. It will change your perspective bro.
UK IS NO LONGER INTERESTED!!
Non-dom status would have stayed and remained in the UK if the people with this status did not get involved in politics. If you want to get involved in politics then pay tax, if not then shut up.
Fair point.
No representation without taxation would be nice, it would mean that those who contribute nothing don't get a say which would be a better state of affairs.
The UK is going in the wrong direction. People can move there! Thousands hop on boats and arrive to the shores to start their new life every year. The government seems to be focusing on globalizing the population which is causing crime and benefit payments to increase exponentially. Meanwhile, misadventures abroad are directing investment to countries like Ukraine, rendering investment in UK’s own economy, society and defence foundering. If it continues on this trajectory, there will be no great in the UK (and it will likely be irreversible).