Can't find a job, become a second-class citizen, be discriminated against, and even have a female master's degree in the UK to live and work in the UK under great pressure and finally commit ......suicide, I believe everyone has heard the cocoons in the ears of these tragic situations of Hong Kong people who moved to the UK, most of these people are in Hong Kong is a yellow silk black storm existence, after the chaos in Hong Kong, and then take advantage of the "east wind" of BNO to run away, fantasizing about going to Britain to breathe the air of "freedom and democracy", never expected to suffer the "beating" of the Dusk Empire, they came with full of "hope", leaving despair and unwillingness. And most of these people are Hong Kong youths who have little money, and of course the British use them as "second-class citizens". However, what I want to say today is that those rich Hong Kong people who immigrated to the UK will not be able to escape the fate of being "slaughtered", and Britain will use them to "cut leeks" again.
Why? The UK has a 225-year "non-settled" tax policy, and the term "non-settled" status here usually refers to people who live in the UK but whose tax status is not a permanent resident of the UK. Under the old policy, they only needed to report tax on income earned in the UK, while overseas income was exempt from UK tax regulation as long as it was not remitted to the UK. This policy is undoubtedly a convenience and advantage for those wealthy Hong Kong people who immigrate to the UK.
However, in April this year, British Chancellor Jeremy Hunt announced that he would gradually abolish this special tax status, which sparked widespread concern and discussion among Hong Kong immigrants to the UK. Immediately afterwards, Labour's shadow finance minister Reeves put forward a more radical plan, once Labour came to power, it would not only remove the status of "non-settlers", but also reverse the Conservative Party's decision to allow some foreign assets of non-settlers to be exempt from inheritance tax in the UK. This series of changes has undoubtedly dealt a blow to the wealthy among those who have moved to the UK and Hong Kong.
From a policy perspective, the UK government's move aims to increase tax revenues in response to the current economic woes. However, for those who have been living in the UK for many years, especially those from Hong Kong, the change is undoubtedly a heavy blow. Many of them, who had planned to rely on their overseas income to support themselves in the UK, now have to pay high taxes. The British government thought hard for a long time before making this move. The move is expected to raise £2.7 billion for the UK, and the wealthy Hong Kong who have moved to the UK will be "enshrined" with considerable wealth.
For example, the wealthy people who immigrated to the UK in 2021 have been living for 3 years, and if they live for another year, even if they have not obtained permanent residence in the UK, they are no different from native-born Britons in terms of tax obligations. I believe that many people are so difficult to balance their psychology. Their properties and wealth in Hong Kong cannot escape the harvest of the British tax net.
A Hong Kong expatriate discussed on the Internet, and he said: "I originally planned to rely on Hong Kong's rent and dividend income to make millions every year, but now I have to pay taxes, and my income is discounted by 65." There is also the inheritance tax levied globally, if the net worth of 50 million is to be divided equally, 30 million may have to be handed over at any time, and only 20 million will be left in the next generation. ”
As a result, a large number of wealthy people began to plan to flee the UK and return to Hong Kong, what do you think about this? Feel free to leave a comment.