Nigel Farage reveals one-off £250,000 non-dom payment plan
Nigel Farage has announced a £250,000 one-off “landing fee” for a ‘Britannia Card’ for non-doms to qualify for tax exemptions, in a push to stem the growing exodus of high net worth individuals from the UK.
The policy would enable a Robin Hood-style direct payment to the lowest paid – directly to their bank accounts, via HMRC.
According to a policy document seen by The Times, non-doms would swerve paying inheritance tax (IHT)
The money would be tax-free and distributed between around 2.5m workers earning less than £23,000, who would be given £600 each – that’s based on 6,000 non-doms taking part in the scheme.
By Reform’s calculations, on this level of uptake the policy would raise £1.5bn each year. Though the party believes that there could be as many as 10,000 issued each year, which could boost the individual payments to lower income Brits to £1,000.
Though Britannia Card holders would only have to pay the up-front fee once, they would be invited to renew the card every ten years.
Farage is set to lay out the proposal in more detail later this week.
This policy comes as a Tory councillor defected to Reform on Monday morning, first reported by the Standard.
Non-dom crisis
With Reform looking to defend its lead over Labour and the Conservatives in opinion polls, this policy looks to be an effort to woo both high net worth and low income voters.
And with Conservative and Reform supporters increasingly open to strategic alignment – CityAM found earlier this month that 51 per cent of their supporters backed an alliance – this outreach to non-doms shows Farage’s tanks firmly parked on Kemi Badenoch’s lawn.
The renewed focus on non-dom tax status comes as the UK faces a wealth drain following Labour’s tax hikes, with four in ten entrepreneurs considering leaving the country and Rachel Reeves considering a U-turn on inheritance tax.
In turn, the UK suffered the second highest drop in wealth of any major economy in 2024 – behind only Turkey.
James Dyson told The Sun last week: “This is how aspiration drains away.”