Budget2011: New charge for non-doms
Non-doms WHO have lived in the UK for 12 years will be charged a fee of £50,000 to avoid paying tax on overseas income
NON-DOMS WHO have lived in the UK for 12 years will be charged a fee of £50,000 to avoid paying tax on overseas income.
The £30,000 charge for non-doms who have been here for seven years will remain, chancellor George Osborne said.
However, he said he will remove the remittance basis on all monies being brought into the UK for investment into UK businesses.
There will also be a statutory residency test introduced.
(picture © 38 Degrees)