A Barclays Wealth study has said that the government’s decision to tax
overseas earnings has not led to non-doms leaving the country in the masses.
Non-doms are apprehensive of leaving the country amid fears they could lose
money on their property due to the struggling market
Daily Telegraph reports.
However the situation could ‘change rapidly’ according to the report if a
small portion of financiers were to leave.
The non-domicile tax means that there is now a £30,000 levy on overseas
earnings which was introduced in April and sparked fears that the 120,000
non-doms registered in the country would leave.
Non-doms spent £17bn in the UK last year.
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