Foreign banks wary of tax changes in UK

The Association of Foreign Banks has warned the UK that it is running the
risk of making the country a less attractive home for banks because of recent
tax policies.

AFB managing director John Treadwell said the government needed to be careful
about sending out messages that suggested London was ‘not a friendly place for
foreign banks’.

‘The government is in danger of going down this route with its recent
announcements on, for example, offshore accounts, proposed taxation changes for
non-domiciled residents, changes to residency rules and the new work permit
system,’ Treadwell told the FT.

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Association of Foreign Banks

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