16,000 non-doms leave UK
Non-doms paid around £162m in a new tax levy in 2008-2009, according to Treasury estimates, but many have left the UK
AROUND 5,400 NON-DOMS paid the £30,000 levy in its first year, worth £162m in tax, according to a Treasury estimates – far less than originally expected.
According to the Treasury figures, in response to a Freedom of Information request, around 16,000, or 11.5% of non-doms have left the UK since the introduction of the non-dom tax, the Telegraph reported.
Non-doms pay £4bn in income tax, according to Treasury estimates, and another £3bn in other taxes such as capital gains, VAT and stamp duty, Damian Reece wrote in a column.
Reece, citing Inland Revenue figures that 11.5% of non-doms left the UK in 2008/09, estimates that this has cost the government about £800m in lost taxes.
The latest Freedom of Information figures show that the non-dom levy was “a dubious idea at best, as far as our public finances were concerned”, Reece adds.