Government plans to tax the foreign super-rich will be counter-productive as
tax revenues will fall and UK investments will be sold, a research report by the
Society of Trust and Estate Practitioners has claimed.
STEP says in the report that more than half of the UK’s mega-wealthy
non-domiciled residents are leaving the country and making plans to sell their
‘For the first time we can confirm that wealth generators are preparing to
leave the UK in significant numbers. We now know wealthy foreigners invest
between £75bn and £125bnin the UK and pay £7.16 billion in tax,’ said Keith
Johnston, STEP’s director of policy and the author of the study.
Non-domiciled individuals pay £7.16bn in tax, according to STEP.
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