The owner of a 拢6m castle in Kent has revealed that plans for a credit fintech, which would have employed numerous 海角视频 workers, were scrapped due to the changes in non-dom status introduced by Chancellor Rachel Reeves, whom she dubbed "Reckless Reeves".
Ann Kaplan Mulholland, a reality TV personality and entrepreneur, has held non-dom status with her cosmetic surgeon husband for three years, as reported by .
However, the couple has opted to relocate to Milan in response to the government's October Budget decision to abolish the advantageous tax regime.
"We can鈥檛 stay we have too many businesses worldwide, and there鈥檚 no way we鈥檙e paying inheritance tax or having our kids taxed 鈥 that鈥檚 a lot of money," Kaplan Mulholland stated in an interview with City AM, "So we鈥檙e moving to Italy."
Her departure signifies another high-profile exit as Kaplan Mulholland, known for her role in Real Housewives of Toronto and as the founder of IFinance, joins the exodus of wealthy individuals from the 海角视频.
Data from analytics firm New World Wealth indicates that last year saw 10,800 individuals with over $1m in liquid assets leave the 海角视频, marking a record high and a staggering 157 per cent increase from the number of affluent departures in 2023.
Kaplan Mulholland, along with her husband Stephen Mulholland, creator of Morpheus 8, plan to make their move to the northern Italian city before April 2026.
Despite not harbouring an affinity for their city of choice, Kaplan Mulholland and her spouse were persuaded to relocate by Italy鈥檚 flat tax residence scheme, specifically designed for affluent expatriates, which stipulates a 鈧200,000 annual fee to exclude their foreign assets and income from the Italian tax system.
Speaking with City AM, the 'Real Housewife' who has now embraced non-domiciled status confirmed that despite their imminent departure, she and her husband would preserve their ownership of Lympne Castle in Kent.
The couple acquired the Grade I-listed fortified manor house for 拢6m in 2023 and have since reportedly invested another 拢25m into it. "I鈥檓 not going to stop running the [castle] business," she declared during the interview.
"I鈥檝e got 100 employees and I鈥檓 not going to take these jobs away from people."
She continued, asserting her commitment to the local community: "If I was a jerk, I would. I鈥檇 just go, 鈥楩orget it. I鈥檓 selling the castle and I鈥檓 off.鈥 But there are people that believed in me, that came on board and I know I鈥檓 helping the community by investing in a business there."
Kaplan Mulholland, who established iFinance in 1996 and turned it into a major Canadian consumer finance company, also disclosed to City AM her thwarted intentions to initiate a 海角视频 fintech firm, anticipating it would have provided employment and generated wealth within the country had the non-dom reforms not influenced her decision to leave.
In a recent interview, Kaplan Mulholland shared her insights on the financial services sector, expressing regret for not having established a unique business during her time in the 海角视频. "If I鈥檇 been here longer, I would have set up a company that does pre-approval approvals for loans," she said.
鈥楾here鈥檚 no end to what we spend鈥
Kaplan Mulholland also used the interview to corroborate fears within London鈥檚 luxury sector about the effect ultra-high-net-worth individuals (UHNWIs) departing the 海角视频 will have on high-end restaurants, designer labels, and the people they employ.
鈥淲hen I speak to the different boutique stores at Harrods, they鈥檙e really concerned about the exodus of people that are funding the restaurants,鈥 she said.
She listed luxury items like Louis Vuitton handbags and some of London鈥檚 storied restaurants and added, 鈥淭here鈥檚 no end to what we spend.鈥
Instead of scrapping the non-dom regime, the entrepreneur-cum-reality star, who has filmed another as yet unreleased TV series documenting the restoration of Lympne Castle, believes the 海角视频 should adopt a non-dom regime similar to the one in place in Italy.
She said: 鈥淚f Reckless Reeves takes a leaf out of that book and says, 鈥極K, non-doms get to choose whether they want the current forms [which attract people coming over for shorter term high-paid jobs], or, if like us you鈥檙e coming in on a wealth investment status, you pay a 拢200,000-a-year fee.鈥
