Universities fret over non-dom tax changes
Recruiting top faculty staff will become harder in wake of non-dom reforms
Universities have warned that the changes to non-dom taxation will make it
more difficult to attract and retain leading academics at UK institutions.
The FT reports that the changes, forcing non-doms to pay a £30,000
levy to keep offshore income tax free, could also affect donations to
Malcolm Grant, provost of University College London, said the changes would
‘potentially undermine some very long-term strategic planning’ undertaken by
universities to attract talent.
London Business School deputy dean Julian Birkinshaw said he was worried
about recruiting international staff. Only 17 of the London Business School’s 93
staff are British.
There are also fears that non-doms, who have donated cash to universities,
will no longer do so.
‘If these individuals move out of the UK, it will not only be the arts that
will suffer a drop in support, but British universities also,’ Richard
Gillingwater, dean of Cass Business School, told the FT.