The crackdown on non-domiciled taxpayers could kill off art donations from
wealthy individuals and deter foreign collectors from lending works to local
The Victoria & Albert Museum, Tate and Courtauld Institute of Art have
all expressed concerns about the impacts of the rules, the FT reports,
as fears grow that the wealthy foreigners will leave the UK.
Under the new rules, non-doms bringing art into the UK from April will face a
tax charge. This has prompted business figures to push the Treasury to create an
exemption for art and heritage items that will benefit the public.
‘A significant number of our most generous donors and enthusiastic supporters
are believed to be non-doms. We are particularly worried about the current
interpretation of the proposed rules on remittances, which may discourage
non-doms from bringing art into the UK,’ said Tate Trustees chairman Paul
The new non-dom rules will require non-doms to pay a £30,000 levy in order
keep the foreign free from UK tax.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy