Under non-dom plans laid out by the Tories in the Budget, individuals who arrive in the UK will not have to pay any tax on overseas earnings for four years. After this, they will pay ordinary income taxes on their overseas earnings.
However, if Labour clinches power on July 4 it plans to go further.
Fears of a tax clampdown have already led to many well-heeled investors choosing to set up trusts to shelter their non-UK wealth from UK taxes, while others have quit the country altogether.
Peter Ferrigno, director of tax services at Henley & Partners, said the Italian tax regime was “attracting a lot of…
