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Foreign Investors for Britain (FIFB) is a newly formed non-partisan group of individual investors and businesses with deep knowledge and expertise of the UK’s tax infrastructure.

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Our response to the Autumn Budget – Access our new report

FIFB launches a new report in partnership with Oxford Economics which highlights the Budget’s damaging economic consequences

The Autumn Budget delivered a hammer blow to the international investment community, with the Government ignoring fresh analysis and industry warnings by pressing ahead with the abolition of the non-dom regime. The Government’s lack of consultation with the business community – and direct attack on international investors – promises to have far reaching consequences for the UK’s economic outlook.

“Our new report identifies how a Tiered Tax Regime (TTR) for foreign investor residents would not only retain international talent but would also generate a potential £680 million fiscal benefit for the UK. The report underscores the benefits of a TTR – which can easily be implemented in tandem with the UK government’s planned changes to the non-dom tax regime.

A new report by FIFB – conducted by Oxford Economics – and based off responses from 115 current foreign investors and 42 specialist tax advisers who represent 614 non-dom clients, concluded:

  • 62% of survey respondents indicated they would or were actively considering leaving the UK shortly, compared to only 5% with the FIFB proposed Tiered Tax Regime (TTR)
  • 79% of respondents would still have come to the UK if the TTR was in place compared to only 33% of respondents without it
  • By 2029/30, the TTR could boost the population of foreign investors by as much as 61% and boost UK Tax Revenues by £680 Million
  • On average, respondents paid £800,000 in UK VAT in 2023/24 and £890,000 in stamp duty over the five-year period to 2023/24

Read our full report, and join our efforts in persuading Government to think again about their damaging reforms.

Access the report here

Purpose:

Britain urgently needs to unlock new streams of inward investment in order to secure a prosperous future. The UK has long been viewed as a hub for international investment, but this proud reputation is under threat.

Mission:

Our mission is to use the collective expertise of our members to support the development of economic policy – bolstering Britain’s place in the world, and ensuring our reputation as a global destination for investment.

Our work:

We combine insights, expertise and data analysis to support the creation of new policy proposals. We’re working closely with stakeholders across the investment community to provide a modern, dynamic alternative to the current non-dom regime, helping support the UK’s growth journey and deliver for the taxpayer. Further information is available here on our policy proposals.

Research led:

Our proposed Tiered Tax Regime – a modern alternative to the outdated non-dom regime – has been forged off the back of detailed analysis by our partners at Oxford Economics. Their full report – Assessing the Impact of Proposed Reforms to the Non-Dom Regime – is available to download here.

OE’s report highlights the frightening unintended consequences of the Government’s current proposals, including:

  • 98% of remittance basis users will emigrate from UK sooner under proposed reforms.
  • 67% of remittance basis users would not have immigrated to the UK if the proposed reforms had been in place.
  • The reforms would cost the Exchequer £0.9 billion per annum, instead of raising £3 billion as expected by HM Treasury.
  • The full economic impact is far greater when considering lost VAT and stamp duty, reduced investment into the UK, and resulting job losses.

The UK’s reputation is on the line.

Proposed changes to non-dom system will create a multi-billion annual shortfall in tax revenue collections and far greater impact to the UK economy due to loss in jobs and investment. Our Tiered Tax Regime is the best possible solution to ensuring the UK remains internationally competitive while addressing the inadequacies of the current system. Join us today, and support our mission to create a modern non-dom regime which is ready for the future.

Contact us

We’re hard at work developing new policy proposals that work in the interests of Britain. To join our group, or learn more about our activity, please submit your email, or contact admin@foreigninvestorsforbritain.com

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