Increasingly, connected professionals can jump from country to country and pay virtually no income tax. He might be uprooted and might tire out after a few years, but it’s not hard to see the allure. Here is the question for the UK, however. Why are we not entering this race?
Of course, we don’t have the beaches or the sun to compete with Portugal or Croatia. But that doesn’t mean the UK hasn’t
offer people who travel the world at the same time as they are building their careers. Such as? First of all, you can meet clients and investors. A Greek Island is great for customers you already have and you can follow them on Zoom, but you’re relatively unlikely to run into them over lunch at the local taverna.
After a while, virtual contacts are not quite the same as real ones. Likewise, if a side activity starts your own business, you are much more likely to find potential funders in London than in Split or Dubrovnik. Then in UK you can network with the rest of your profession.
Whether it’s web services, finance, media or consultancy, the UK has vibrant communities you can tap into. And of course Great Britain has real cities with great cultural life. There are always things to do, and this is not always the case with a Greek island, regardless of its initial charms.
Add in decent broadband connections – although not as good as they should be, especially in parts of central London – and a stable legal and political system and there is no reason the UK should Uni is not able to set up a nomadic package.
What would it look like? The UK should offer a one-year automatic visa, with zero income tax on non-UK income, to anyone who wants one, provided they can prove they have more income £ 40,000, either as freelancers or with an employer. with a “work from anywhere” policy.
This would help attract a generation of high income professionals to the UK and some will stay here permanently. And it will help fill the skills gaps that are starting to emerge across the economy. And while they would pay little income tax – much like the old no-dom rule that exempted foreigners – they would pay a lot of other taxes, from VAT to fares, airlines and taxes on fuel.
But more importantly, digital nomads will be the highest paid, most creative, and most enterprising professionals. They will be the workers at the forefront of the application economy.
The more of them we can persuade to move to the UK, the better – and with the right package, not all will be heading to the Caribbean.