The non-domicile tax rules, which will receive Royal Assent today, are unworkable in their current form and should be subject to wider consultation before being introduced, Grant Thornton says.
Mike Warburton, Grant Thornton senior tax partner, said that, as preceding
rules had been in place since 1799, a major overhaul should have been done to
the legislation instead of rushing through changes in reaction to claims from
shadow chancellor George Osborne that a Conservative government would raise £3bn
in taxes from non-domiciled residents to ease inheritance tax and stamp duty
burdens.
John Whiting, a PricewaterhouseCoopers
(PwC) tax partner, said there was no clarification on how non-dom remittances
will be treated for tax purposes. Nor was it clear whether there would be
penalties for those unwittingly breaking the rules while issues were ironed out.





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