Nigel Farage announces ‘Brittania Card’ tax plan

Reform UK leader Nigel Farage has announced plans to charge wealthy non-doms a ‘landing fee’ of £250,000 – the proceeds of which would provide a £600 dividend to the lowest paid workers in the country.

Those who choose to pay the £250,000 fee would receive a ‘Britannia Card’ and would no longer be required to pay inheritance tax or taxes on wealth, income, or capital gains earned outside the UK.

Farage said this plan aims to stop the exodus of both foreign and British entrepreneurs and businesspeople while raising between £1.5 billion to £2.5 billion per year.

“Many talented people are leaving and we want as many entrepreneurs, as many risk-takers, as many job creators, as many people paying lots of tax, as many people investing huge sums of money,” Farage said.

The current government plans to tighten loopholes around non-domicile status, which refers to people who live in the United Kingdom but have a permanent home abroad for tax purposes.

Currently, non-doms are only required to pay tax on money they earn in the United Kingdom, but this is set to change under new rules that will soon be introduced by Chancellor Rachel Reeves.

Reform’s Britannia Card policy would see these non-doms able to retain this special tax status for a cost of £250,000, renewable every ten years.

Compared with closing the loophole, however, this policy would see the government miss out on a sizeable portion of tax non-doms would be liable to pay under revised regulations.

The policy has attracted a raft of criticism from other parties, with many arguing that it effectively amounts to a tax cut for foreign billionaires.

Labour Party chair Ellie Reeves called the proposal “a golden ticket for the super-rich, paid for by working families”.

“Nigel Farage’s latest plan would be a giveaway for billionaires and a disaster for Britain,” she said.

“Just like Liz Truss, Reform UK’s reckless, unfunded policies would blow a hole in our economy.”