The findings of new research have warned that the changes to non-dom rules
could cost the Treasury more than £2bn.
According to figures compiled by the Society of Trust and Estate
Practitioners (STEP) the Treasury’s estimates that it will raise £800m a from
the levy will be dwarfed by £2.1bn in lost tax receipts as the wealthy
foreigners leave the UK for other jurisdictions.
Under the new rules non-doms will have to pay an annual £30,000 levy to keep
foreign income free from UK tax.
The draft legislation is open to consultation until the end of the month,
raising hopes that there still is time to address these concerns, The Daily
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