High-net-worth residents of UAE heading to Ireland and France to wait out missile attacks before tax year ends
Wealthy UK nationals fleeing war in the Gulf are seeking sanctuary in countries such as Ireland and France to avoid hefty tax bills back home.
In the face of possible demands from HM Revenue and Customs, high-net-worth individuals who had been living in the United Arab Emirates and neighbouring countries are hoping to wait out the missile and drone attacks elsewhere rather than return to the UK.
With only about three weeks remaining in the current financial year, many overseas residents have already “spent” their allocation of days in Britain without incurring tax liabilities. Some are seeking guidance from HMRC on whether they would be granted 60 extra days under an “exceptional circumstances” provision.
Nimesh Shah, the chief executive of advisory firm Blick Rothenberg, said: “I’ve had a disproportionate number of calls from people wanting to leave the UAE in recent weeks.
