Reform's 'headline-grabbing' non-dom announcement derided as poorly thought through

Nigel Farage proposes ‘Britannia Card’

clock • 5 min read

Plans outlined by Reform UK leader Nigel Farage to charge high-net-worth newcomers and returners £250,000, with proceeds to be returned to Britain’s “lowest-paid” full-time workers, have been lampooned by advisers and tax experts.

Farage outlined the Britannia Card policy which would see contributors rewarded with an indefinite remittance-style regime on offshore income in addition to a 20-year inheritance tax (IHT) "shield". The former UKIP leader also set out that under the plans about 2.5 million UK workers could receive an annual cash bonus of between £600 and £1,000. He explained a "low-uptake" scenario of 6,000 cards issued a year could see a £1.5bn fund generated, while a "high-uptake" scenario of 10,000 could provide a £2.5bn fund. The policy was met with scepticism Yellowtail Financial planning foun...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Nigel Farage unveils £250,000 non-dom charge

Nigel Farage unveils £250,000 non-dom charge

To be returned to Britain’s ‘lowest-paid’ workers

Jen Frost
clock 23 June 2025 • 3 min read
IHT revenue shows 'no signs of running out of steam'

IHT revenue shows 'no signs of running out of steam'

Expect increases to continue, experts agree

Jen Frost
clock 20 June 2025 • 3 min read
IHT:  All the options for reducing clients' taxable estates

IHT: All the options for reducing clients' taxable estates

'Clients can make gifts to trusts to reduce the taxable estate'

Julia Peake
clock 09 June 2025 • 5 min read