The review of non-domicile tax status – the tax system which means foreignersresident in the UK, but with overseas connections, are taxed on UK-based income and gains – was flagged in last year’s Budget and revisited in today’s pre-Budget statement.
But John Riches, chair of the society’s UK technical committee, said today that it could provide a tax boost to other EU countries at the UK’s expense.
‘No one can guarantee that wealthy individuals will leave the UK if the rules are altered radically, but we do know that globalisation has made it easier to move money and labour across national boundaries and that our EU competitors, like Belgium and Italy, have similar schemes specifically aimed at attracting the wealthy,’ he said.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy