TaxAdministrationNon-dom tax rules ‘unworkable’, tax experts say

Non-dom tax rules ‘unworkable’, tax experts say

Grant Thornton tax experts warns non-dom tax rules which will receive Royal Assent today are ‘unworkable’

The non-domicile tax rules, which will receive Royal Assent today, are
unworkable in their current form and should be subject to wider consultation
before being introduced, Grant
Thornton
says.

Mike Warburton, Grant Thornton senior tax partner, said that, as preceding
rules had been in place since 1799, a major overhaul should have been done to
the legislation instead of rushing through changes in reaction to claims from
shadow chancellor George Osborne that a Conservative government would raise £3bn
in taxes from non-domiciled residents to ease inheritance tax and stamp duty
burdens.
John Whiting, a PricewaterhouseCoopers
(PwC) tax partner, said there was no clarification on how non-dom remittances
will be treated for tax purposes. Nor was it clear whether there would be
penalties for those unwittingly breaking the rules while issues were ironed out.

‘This is not the way to do tax legislation,’ Whiting said. ‘It needs proper
consultation to make sure everybody knows how the rules are going to work before
they come into effect.’

Further reading:

Treasury in row over £35k non-dom bill

Read
The Daily Telegraph story

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