Lib Dems move on non-doms

Lib Dems move on non-doms

Non-domiciles are set to come under further attack this weekend as the Liberal Democrat party conference kicks off in Brighton

The Lib Dems are
opposed to the non-dom rule, and are set to confirm commitments to cut the basic
rate of income tax by four pence in the pound, paid for by a crackdown on
capital gains tax paid by private equity chiefs and non-doms.

Shadow Chancellor Vincent Cable also plans to concentrate on elaborating
proposals to ‘radically simplify the tax code’, removing hundreds of pages of
regulations.

The non-dom rule costs the UK up to £4.3bn a year, according to calculations
for the TUC by tax campaigner Richard Murphy. TUC general secretary Brendan
Barber said: ‘A significant group of super-rich think that tax is for the little
people.’

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