Super-rich have left country to avoid being subjected to UK taxes on overseas income, conference hears
A London-based billionaire non-dom left the UK for good on the day that the chancellor, Jeremy Hunt, announced the scrapping of the 225-year-old tax scheme in the spring budget, his tax adviser has revealed.
“We did have one billionaire client who literally on the day of the budget, 6 March, got on his private jet with his wife, with his children, with the private tutor, and flew to one of his other 17 houses in the world – and said ‘I’m not coming back’,” said John Barnett, a partner at the law firm Burges Salmon, which specialises in advising the super-rich on how to legally reduce their tax bills.
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