London Chauffeur Observations of a London Chauffeur

21Feb/102

New UK tax policies are creating a worrying trend for London Chauffeurs.


As a London Chauffeur, I neither purport to be a financial nor political expert but I do have some interesting conversations with the people I drive and have noticed a worrying trend of late i.e. foreign businesses and individuals (non-domiciliaries or non-doms) who are planning to exit the UK due to the recent hike in tax rates and the introduction of taxes on bonuses for financial institutions. Whilst researching I found this article at International Adviser backing up what I've been hearing along with this news item about drinks maker Diageo at the BBC.
One multinational client of mine is looking into moving it's European Headquarters from the UK to another more tax friendly European Country (I'm deliberately being vague from a confidentiality perspective here).
Another Russian businessman is considering moving away from the UK and basing in Dubai and another is leaving the UK after 11 years to work in Germany. All of these examples contribute substantially to the exchequer through various forms of taxation and subsequently the revenues of other UK businesses to which they patronise and I wonder if we can really afford to lose them.
Other countries are waiting for the with new tax incentives of their own as our foreign nationals begin looking for more tax friendly territories in which to reside.
All of this as a direct result of the government's recent tax changes.
London in particular has benefited hugely from the influx of money that the outgoing tax incentives have brought over the last few years but as I see it, the government has decided to go for short term revenues and to appease the less privileged voters without considering the bigger picture i.e. a decrease in private investment and the effect on Property Prices, high end retail sales, hotels, restaurants etc. and of course my own industry UK/London Chauffeur Services.
As a chauffeur service provider I'm concerned that many of our regular users will begin to disappear. After all, these three examples just come from me. There are many thousands of chauffeurs out there. What if they all had the same experiences as me?
Just for the record I have no interest in Party Politics, I would feel the same whoever introduced these tax changes.
Wow......... I never thought I would be so political in my first blog. I hope somebody reads it and even possibly sparks a debate.

Non-domiciliaries