Crackdown set to spark non-dom exodus
Non-dom taxpayers in the spotlight as government is to set new tax rules
Non-domiciled taxpayers were said to be on the brink of leaving the UK this
week over the government’s crackdown.
Advisers told Accountancy Age that a key aspect of their concerns is
the fear that however bad government proposals are at present, they could become
worse.
In a discussion paper on plans to levy a £30,000 charge on non-doms who
wanted to keep off-shore income tax free, released in December, the Treasury
said the rules would be open to review, a move advisers believe allows for
tougher reforms in the future.
‘There is a serious concern that what we are getting is just stage one. The
suspicion is that the levy will go up in time and that the rules will become
tougher,’ said
PricewaterhouseCoopers tax
partner John Whiting.
Non-dom taxpayers in the House of Lords, such as Labour donor Lord Paul, have
also come under pressure this week.
A bill proposed by Lord Oakeshott and due shortly after this week’s recess,
will require all peers to be domiciled in the UK for tax purposes.