Reform UK's "Britannia Card": a £250,000 deal for non-doms
A one-off payment that would exempt wealthy newcomers' overseas income, gains and wealth from UK tax — with the fees handed to the lowest-paid.
What's being proposed
Reform UK has proposed a "Britannia Card": for a one-off £250,000 contribution, an internationally mobile wealthy individual would receive a 10-year renewable residence permit and a favourable UK tax status — taxed on a remittance basis only, with no UK tax on overseas income, gains or wealth, and no inheritance tax. Reform says all the fees collected would be distributed "Robin Hood-style" to the 2.5 million lowest-paid workers in the UK. The policy is the party's answer to the migration of wealthy "non-doms" following changes to their tax treatment under recent governments.
Where it comes from
Reform argues that successive changes to non-dom rules — by both the previous Conservative government and the current Labour one — drove away big-spending wealthy residents, and that a simple flat entry fee would lure them back while raising money to redistribute. The party frames it as "a social contract", not just a tax status.
The case for and against
The party argues
- It would attract and retain wealthy spenders and investors, boosting the wider economy.
- The fees would go directly to the lowest-paid workers as a cash transfer.
- A simple flat fee is, it says, clearer and more attractive than the current rules.
Critics argue
- The Chancellor called it a "tax cut for foreign billionaires".
- The IFS said it is "far from clear" whether it would be positive or negative for the public finances.
- Tax analyst Dan Neidle identified a large gap (around £34bn) in Reform's wider tax figures.
- Because it could be cheaper than current rules, critics say it might deter, not attract, some high-earning professionals.
Sources & further reading
- Reform UK — the Britannia Card policy.
- Chartered Institute of Taxation — analysis of Reform's non-dom proposal.
- Institute for Fiscal Studies — commentary on the public-finance impact.
General information based on reported proposals; costings are disputed and rules could change. Not financial advice.