Nigel Farage is shaking things up again — and this time, he’s aiming right at the heart of the UK’s wealth debate.
In a surprising move that blends pro-business thinking with a promise of fairness, the Reform UK leader is set to unveil a headline-grabbing plan that would let the super-rich skip certain taxes… if they pay a hefty upfront fee.
And here’s the twist: the money would go straight to Britain’s lowest-paid workers.
A £250,000 Pass for the Super-Rich
Farage’s proposal centers on reintroducing a version of the non-dom tax regime — but with a twist.
Under his plan, non-domiciled residents in the UK (those who live here but claim their permanent home is abroad) could pay a one-off £250,000 “Entry Contribution.”
In return, they’d avoid UK taxes on any offshore income or gains and wouldn’t have to pay inheritance tax either.
The goal? To entice wealthy individuals to stay — or even relocate — to Britain.
In return for their upfront contribution, the lowest-earning 10% of full-time workers would receive direct cash payouts, handled by HMRC as automatic dividends.
Farage is positioning this as a way to “restore the social contract between rich and poor.”
A Clear Response to Labour’s Non-Dom Reforms
This announcement comes just a few months after Chancellor Rachel Reeves abolished the centuries-old non-dom regime in April.
That policy shift meant all UK residents, regardless of their non-dom status, would now be taxed on their worldwide income — not just what they bring into Britain.
Farage’s plan would effectively roll back those changes, offering an alternative route for the wealthy to remain in the UK under a transparent, flat-fee system.
Wealth Exodus Fuels the Debate
Farage’s announcement isn’t happening in a vacuum.
It follows growing concern that Britain’s wealthiest individuals are packing up and leaving.
In April, billionaire brothers Ian and Richard Livingstone — known for their vast property empire and luxury investments — moved their base from the UK to Monaco.
And more recently, top Goldman Sachs banker Richard Gnodde, worth more than £130 million, was reported to have relocated from London to Milan.
Gnodde is believed to be the first senior investment banker to make such a move, prompting fears of a wider exodus among elite financial figures.
Business Leaders Urge Government to Act Fast
The departures have sparked anxiety in financial circles.
Leslie Macleod-Miller, head of the lobby group Foreign Investors for Britain, has been vocal about the risks.
He warned that high-profile exits like Gnodde’s could mark the start of a broader drain of talent and capital, urging ministers to rethink the current tax environment.
“We need an internationally competitive system that attracts and retains the top global talent,” he told City AM.
“Without it, Britain risks losing not just individuals, but the investment and innovation they bring.”
Farage’s Left-Tilting Pitch: A Shift or a Strategy?
What makes Farage’s latest move so striking is how much it leans left economically — at least on the surface.
While Reform UK has traditionally stuck to hardline positions on immigration and national identity, this tax proposal is all about wealth redistribution.
It’s an unusual pivot that seems crafted to tap into growing public frustrations around inequality — while also courting big money.
Whether it’s genuine economic rebalancing or political theatre remains to be seen, but it’s definitely a curveball in the election season.
The Bigger Picture: Can the UK Keep Its Wealthy?
Reeves’ non-dom reforms were intended to make the UK tax system fairer.
But critics say they’re having unintended consequences.
As global mobility becomes easier, the super-rich are increasingly willing to move their money — and their homes — somewhere more tax-friendly.
Farage is now positioning himself as the voice willing to stop the wealth flight by offering a compromise: let the rich pay once, big — and let that money go directly to those who need it most.