TaxPersonal TaxNon-dom departures ‘not significant’ for economy

Non-dom departures 'not significant' for economy

Treasury director of personal tax says impact of non-dom departures will be minimal

Mike Williams, director of the personal tax at the Treasury, has told
Treasury Select Committee MPs that the departure of non-doms from the UK will
have little impact on the UK economy.

Responding to questions from conservative MP Peter Viggers about what effect
non-doms leaving the UK would have on the country, Williams said the impact
would ‘not (be) significant’.

The comments from Williams represent one of the few times that senior
Treasury officials have given any indication of how important non-doms are to
the UK economy.

Williams confirmed that the Treasury expects 3,000 non-doms to leave the UK
following the introduction of a £30,000 levy on foreigners who have been in the
country for at least seven years and want to keep offshore income tax free.

He was unable, however, to say whether employers of highly-skilled foreign
professionals would have to compensate their staff for the charge and breakdown
how many of the people that would leave the UK were casual or low wage workers.

Further reading:

Watch the
hearing here

Related Articles

Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

Personal Tax Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

3w Alia Shoaib, Reporter
Rent-a-room relief – the survey says…

Personal Tax Rent-a-room relief – the survey says…

2m Helen Thornley, ATT Technical Officer
What should the OTS prioritise in its review of inheritance tax?

Personal Tax What should the OTS prioritise in its review of inheritance tax?

4m Alia Shoaib, Reporter
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

5m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

6m Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

9m Alia Shoaib, Reporter