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.
Report argues that the government must change the way it makes tax and budget decisions
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC