Overview

• Under the proposed Britannia Card, non-dom residents would pay a one-off £250,000 fee for a 10-year renewable permit and exemption from UK tax on offshore income, gains and inheritance.
• Reform UK projects the scheme could raise £1.5 billion to £2.5 billion annually to deliver £600–£1,000 in tax-free dividends to roughly 2.5 million low-paid full-time workers.
• Tax experts estimate the proposal could cost the Exchequer £34 billion over five years and warn it may deter high-skilled migrants who cannot recoup the upfront fee.
• Labour has labelled the plan a “golden ticket for foreign billionaires” that risks shifting the tax burden onto working families or forcing cuts to public services to fill funding gaps.
• The plan draws on flat-fee non-dom regimes in Italy and Switzerland as the UK competes globally to attract wealthy residents and bolster public finances.