Profession divided on non-dom numbers
Accountancy Age poll shows a profession completely divided on non-dom statistics
The profession is totally divided on exactly how many non-doms there are in
the UK who would have to pay a levy in return for keeping their foreign income
exempt from tax.
In a reader poll, Accountancy Age asked how many non-doms would be
able to pay a levy of £25,000, a proposed by the Tories, in return for tax
exemption on foreign income.
Close to a third of the 139 respondents (31%) said the debate on non-dom
numbers is not worth having at all.
But 28% of the respondents said Treasury estimates that less than 15,000
non-doms could pay the levy were correct, while 27% said the Treasury figures
were way too small and that Tory calculations of more than 150,000 were closer
to the mark.
The remainder of the respondents (14%) said the number of non-doms was closer
to 200,000 and far greater than most authorities have estimated.
The sharp divisions in the poll show how contentious the non-dom issue has
become, and also highlights the inadequacy of current statistics on the non-dom
numbers and the amount of tax non-doms pay.
In the pre-Budget report chancellor Alistair Darling introduced a £30,000
levy on non-doms who had been in the UK for more than seven years and wanted to
remain exempt from tax on foreign income.
Further reading:
Treasury says just 4,000 non-doms face
levy
Faults exposed in non-dom regime
Brown and Darling talk non(dom)sense