TaxPersonal TaxChancellor’s Tory tax attack ‘a guess’

Chancellor's Tory tax attack 'a guess'

Treasury admits figures used to deride non-dom proposals should be treated with caution

Chancellor Alistair Darling faces a humiliating climbdown after it was
revealed figures he used to attack Tory proposals on non-domiciles should be
treated with ‘a great deal of caution’.

In a letter to the Shadow Chancellor, George Osborne, the permanent secretary
to the Treasury, Nicholas Macpherson, acknowledged that ‘there is no complete
data set for the unremitted foreign income of non-domiciles’, reports the
Daily
Telegraph
.

The row erupted after Darling this week dismissed Osborne’s costing of a
£25,000 non-dom tax proposal, saying: ‘The Treasury’s initial estimate, on best
information available, is that just 15,000 current non-domicile residents have
foreign income in excess of £62,000.’

But the Treasury document that set out the costings said: ‘All figures are
best estimates but need to be treated with a great deal of caution due to the
lack of available data or evidence.’

The Tories plan to use the tax to pay for an increase in the inheritance tax
threshold to £1m.

Related Articles

LITRG urges government to consider tax changes in disability work plan

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

15h Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w 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

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

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

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter