Back to today’s briefing

Story perspectives

Britannia Card: Tax Breaks for Expats Spark Controversy

6/24/2025

50 7

Left

Reform UK Introduces Tax Exemption

Reform UK is set to launch the Britannia Card, enabling affluent foreigners and returning expats to secure a 10-year tax exemption on overseas income and inheritance tax for a one-time fee of £250,000. This initiative aims to uplift the lowest-paid UK workers, potentially delivering an annual boost of £600-£1,000 to 2.5 million individuals. However, critics are raising alarms about the emergence of a two-tier tax system.

Right

Jenkyns Advocates Tax Reform

Dame Andrea Jenkyns champions Reform UK's Britannia Card, urging a thorough policy review to entice affluent individuals back to Britain. She passionately defends British citizens, calling for the abolition of inheritance tax, which she claims pushes millionaires away and erodes national pride and community spirit.

History

Historical Context

The UK's "Big Bang" deregulation in 1986 transformed financial markets, attracting foreign investment and leading to significant wealth concentration, with the top 1% holding 14% of national income by 2020. The Britannia Card initiative reflects this trend, offering tax incentives to wealthy foreigners, raising concerns about exacerbating economic inequality and highlighting ongoing tensions in wealth distribution and national policy.

1 of 3

Reform UK Introduces Tax Exemption

Reform UK is set to launch the Britannia Card, enabling affluent foreigners and returning expats to secure a 10-year tax exemption on overseas income and inheritance tax for a one-time fee of £250,000. This initiative aims to uplift the lowest-paid UK workers, potentially delivering an annual boost of £600-£1,000 to 2.5 million individuals. However, critics are raising alarms about the emergence of a two-tier tax system.

1 / 3