Wealth Property Tax above value £10m


END NON DOM STATUS ON SUPER RICH 


  • Ending non dom status on super rich (millionaire / billionaires), who declare their permanent home overseas and so legally exempt from paying UK tax on foreign income.
    



TAX SUPER RICH MORE ON ASSETS


  • Wealth property tax on super-rich (citizen or non-citizen) aka millionaire (over £1m a year income money) and billionaire (a thousand million Pounds income money a year) people’s assets:

  • 1 per cent on assets valued from £10m to 49m. 
  • 3% on those with asset wealth from £50m-£99m, and
  • 5% on asset wealth of billionaires above 100m. 



EXEMPTION FOR PENSIONERS, especially in London

  • Elderly exempted, who live in homes now of high value, but with low or basic money each year.



WEALTH TAX RING FENCED TO FUND PUBLIC NHS - Perhaps named WEALTH PROPERTY TAX FUNDING PUBLIC UK NHS


  • Ring Fence Tax budget from assets of millionaires and billionaires to fully fund:

  • resurrected public NHS,

  • building back all shut down NHS hospitals, replacing NHS hospitals in very poor condition and NHS accident and emergency units, and

  • fully staffing NHS, including recruiting up to 250,000 foreign doctors, nurses, midwives, GPs, ambulance paramedics and NHS Dentists, already trained and experienced.


Background
..."new rules ... force overseas buyers to declare their ownership ... The new register of overseas entities maintained by Companies House (came) into force on 1 August 2022."... "The super rich have bought 61 luxury London properties with price tags of more than £10m in the first six months of 2022 with sales at their highest in a decade. The total value of £10m-plus homes changing hands ... (in 2022) ... topped £1bn as international buyers continue to be attracted to London."... 

Source: https://www.standard.co.uk/news/london/record-number-10-million-pound-homes-london-post-brexit-b1014357.html


..."wealth tax on millionaire couples paid at one per cent a year for five years, (London School of Economics) found, would raise £260 billion."...
Source:
https://www.lse.ac.uk/research/research-for-the-world/economics/how-much-tax-do-the-rich-really-pay


..."Together with the Institute for Policy Studies, the Patriotic Millionaires and the Fight Inequality Alliance, Oxfam has used data from Wealth-X and Forbes to calculate that a wealth tax of 2% on the world’s millionaires,
3% on those with wealth above $50m, and
5% on the world’s billionaires
would raise $1.7 trillion dollars annually. "...
Source:
https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621477/bp-survival-of-the-richest-160123-en.pdf


YOUTUBE  INFORMATION ABOUT SUPER RICH AND OWNERSHIP OF HIGHEST VALUE ASSETS, OF MAN FROM UK PATRIOTIC MILLIONAIRES


https://www.youtube.com/watch?v=rZHdXOWMChE&t=10s




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