'It's punishing' Non-dom says tax change will force him to leave Britain
The Guardian|May 02, 2024
Bassim Haidar is house hunting. He owns "more than 10 properties" in central including a London, £20m five-bedroom flat near Chelsea's Sloane Square.
Rupert Neate
'It's punishing' Non-dom says tax change will force him to leave Britain

But he says he has decided to "urgently" leave the UK to avoid paying millions of pounds in tax after the government's and Labour's plan to scrap the 225-yearold "non-domicile" regime, which allows Haidar, and 68,800 other non-doms, to avoid paying UK tax on their overseas income.

"I am moving - that is it," says Haidar, an entrepreneur who has lived in the UK on-and-off since 2010. "We have looked at it from every angle and it just doesn't make sense to stay here. This [the ending of the non-dom regime] is going to cost me millions and millions of dollars and pounds every year in taxes on money that I've actually made abroad and businesses that I've built abroad." Haidar is starting his search for a new house - and tax-domicile - this week. First in Monaco, the taxfree principality on France's Côte d'Azur, and then tax-free Dubai.

"What's the logic of me living in the UK? In Monaco there are no taxes, and no inheritance tax.

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