With the news of non-dom tax regime abolition, Black Brick Founder & Managing Partner, Camilla Dell featured in PrimeResi this week to share her thoughts, alongside a panel of other experts in prime central London property.
The key consensus? The are no positive takeaways, Camilla concluded:
“There are no positive takeaways with either the Labour or Conservative Party proposed changes to the UK Res Non Dom regime and undoubtedly these changes will cause some UK Res Non Doms to leave the UK in search of more tax friendly jurisdictions and deter some wealthy people from relocating to the UK. Four years simply isn’t long enough for families to settle.
However it remains to be seen what effect the changes will have on PCL property pricing. Quitting the UK doesn’t necessarily mean a property gets sold in the process. And some UK Res Non Doms who have been in the UK for many years and built a life here may decide to swallow the changes as their lives and their families lives would be too disrupted by leaving.”
Read the full article here.