MPs to hone in on non-doms
Treasury Select Committee to conduct review of non-dom loophole
The Treasury Select Committee, which has just conducted a series of high
profile hearings into private equity, will now focus in on the taxation of
non-domiciled residents, City A.M. reports.
Non-doms are not required to pay tax on foreign income, a rule which has
recently enraged tax activists and unions who claim the rules are unfair.
The Treasury is currently reviewing the non-dom question, but the select
committee’s interest marks the most notable political intervention in the matter
since the review was announced.
‘We can’t run the tax economy of this country as a large-scale version of the
Chelsea Football Club,’ said MP and committee member Jim Cousins, alluding to
the club’s Russian owner Roman Ambramovich, who is non-domiciled.
Further reading:
Taxman: ‘We’ll contest amnesty non-doms’