UK's Britannia Card: All about Nigel Farage's plans to charge rich expats £250,000 to give to the poor
Synopsis
Reform UK has proposed the "Britannia Card," offering wealthy foreigners and returning Britons a 10-year residence permit with tax benefits for a £250,000 fee. This plan aims to attract wealth by reintroducing a "non-dom" status, shielding offshore income from UK tax. The revenue generated would fund tax-free bonuses for low-paid workers, but the scheme faces criticism and questions regarding enforcement.
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UK eyes more high skilled Indian professionals through Global Talent visa
The United Kingdom is looking to deepen its scientific and academic relationship with India by inviting more high-skilled professionals through its Global Talent visa scheme, British Science Minister Lord Patrick Vallance said on June 20, while speaking at the 'Unlocking UK-India Collaboration for a New Era of Innovation' session at the India Global Forum in London, Vallance said India's growing strength in science and technology offers strong potential for bilateral cooperation. 'There is already a strong relationship between India and the UK, and I think it's growing,' Vallance said. 'But government-to-government relationships on science aren't actually what drives everything. It has to be a scientist and a scientist as well.' The UK government plans to announce a new Industrial Strategy in the coming weeks, which will outline key international partnerships, including India, with a focus on science, innovation, and skilled mobility. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Companies Are Overcharging You For Florida Auto Insurance Smart Lifestyle Trends Learn More Undo Global talent visa in focus (Join our ETNRI WhatsApp channel for all the latest updates) The UK's Global Talent visa aims to attract top-tier individuals from around the world who have demonstrated leadership—or the potential for it—in academia, research, arts, culture, or technology. Available to professionals aged 18 and above, it targets both established figures and emerging leaders in these fields. Live Events MORE STORIES FOR YOU ✕ UK's Farage promises non-doms protection from tax on overseas assets UK's Britannia Card: All about Nigel Farage's plans to charge rich expats £250,000 to give to the poor « Back to recommendation stories I don't want to see these stories because They are not relevant to me They disrupt the reading flow Others SUBMIT Applicants typically need to secure an endorsement from a relevant UK body—such as the Royal Society for Science or Arts Council England for culture—unless they've already won a qualifying international award. Candidates can apply for the visa through the UK Home Office . The endorsement stage generally takes 4 to 8 weeks for a decision. After receiving endorsement, applicants must submit a visa application to UK Visas and Immigration (UKVI). The standard visa processing time is around 3 weeks when applying from outside the UK. Applicants are required to pay an endorsement fee of £524 and a visa application fee of £192. Additionally, the immigration health surcharge is £624 per year. The visa is typically granted for up to 5 years and is extendable, with eligibility for permanent settlement after 3 to 5 years depending on the endorsement type. To bring flexibility and international expertise into the UK, the visa supports long-term settlement: individuals recognised as established leaders may qualify for indefinite leave after three years, while those with emerging promise have a five-year path to settlement. Family members can also be included in this program.
Time of India
4 hours ago
- Time of India
UK's Britannia Card: All about Nigel Farage's plans to charge rich expats £250,000 to give to the poor
Synopsis Reform UK has proposed the "Britannia Card," offering wealthy foreigners and returning Britons a 10-year residence permit with tax benefits for a £250,000 fee. This plan aims to attract wealth by reintroducing a "non-dom" status, shielding offshore income from UK tax. The revenue generated would fund tax-free bonuses for low-paid workers, but the scheme faces criticism and questions regarding enforcement.
Time of India
5 hours ago
- Time of India
UK's Farage promises non-doms protection from tax on overseas assets
Nigel Farage 's Reform UK party is offering non-doms full exemption from tax on their overseas assets for a fee of £250,000 ($335,000) every 10 years with the revenue redistributed to lower income workers, drawing a new battle line with Britain's traditional parties. Farage's proposal pits him against both the Conservatives, which last year abolished non-dom status for those who live in Britain but have their permanent home abroad, and the Labour government, which went one step further after winning the election last July by imposing inheritance tax on their global wealth. Thousands of people in Britain have left in protest at Labour's inheritance tax measure, including some of the country's wealthiest individuals. Chancellor of the Exchequer Rachel Reeves is now exploring changes to bring them back. Inheritance tax is charged at 40% in the UK, one of the highest rates in the developed world. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo Farage would reinstate the old non-dom regime that protected them from tax on their overseas income, including inheritance tax, to reverse the exodus of the rich and business elite. Under Reform's so-called 'Britannia Card,' non-doms would have to pay the £250,000 fee. The Times first reported the story. (Join our ETNRI WhatsApp channel for all the latest updates) Proceeds from the levy would be transferred directly into the bank accounts of the lowest-earning 10% of workers. Reform estimated about 2.5 million people on a full-time salary of less than £23,000 would get £600 each if 6,000 non-doms paid for the Britannia Card. Live Events You Might Also Like: UK may rethink non-dom inheritance tax as wealthy foreigners exit Reform has become a credible threat to Britain's traditional two party system. It is leading in the polls and Farage is developing a more coherent policy agenda than with his former UKIP and Brexit parties, when he led largely single issue campaigns against the European Union. Critics warn that his plans for big tax cuts on working people paid for by slashing the size of the state could prove undeliverable. Reform's £250,000 'landing fee' is a little cheaper than the former non-dom regime under which there was an annual fixed charge of £30,000 if an individual lived in the UK for seven of the last nine tax years, rising to £60,000 if it was 12 of the last 14 tax years. Restoring the non-dom status would also cost Reform the £33.8 billion of income that the Office for Budget Responsibility estimated the Conservative and Labour changes will generate over this parliament. Companies House data compiled by Bloomberg found evidence of an exodus of more than 4,400 directors of UK businesses since last July. In April alone, when the tax hikes kicked in, departures were up about 75% from 12 months earlier. You Might Also Like: UK replaces passport stickers with eVisas for some: What you need to know if you're planning your travel UK's tougher immigration stance may undermine efforts to meet net zero by 2050
