US envoys are making last ditch attempts to have non-dom proposals fine-tuned
so that American citizens avoid a double taxation hit.
Plans are in place to charge non-domiciled residents an annual levy of
£30,000 if they have been working in the UK for more than seven years, but the
particular wording of the legislation may see US citizens suffer twice because
they cannot offset the charge against US tax on worldwide income.
Richard LeBaron, charge d’affaires for the US embassy in London told the
Financial Times: ‘The embassy has been consulting widely and hearing the
concerns of American companies and taxpayers in the UK. We are communicating
those concerns to HM Treasury and others in the UK government as part of our
regular dialogue with them.’
A new 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