How will Labour fill the non-dom shaped hole in their tax plans? Brace yourself. September 30, 2024 Cast your mind back to the Spring and early Summer of this year when the election campaign was underway. It seemed the Tories were announcing a new policy every day, from the return of National Service to inventive new ways of protecting pensioners’ incomes, Conservatives filled the airwaves with ideas, policies and announcements. In the [...]
City sounds alarm over fears that non-dom reforms won’t raise money September 27, 2024 Leading city figures have urged the government to adapt its planned reforms to the non-dom tax regime, after it was revealed that Treasury officials are concerned that the reforms may not raise any money. Labour has promised to scrap the non-domicile (non-dom) regime – a tax status that allows wealthy foreign nationals only to pay [...]
Ex-Bank of England chief economist warns on Labour’s non-dom crackdown September 26, 2024 Speaking on LBC, Andy Haldane warned that the government's measures might give overseas investors "cause for pause" before setting up businesses in the UK.
Non-dom crackdown: Fears it will fail to raise cash and actually cost the UK money September 26, 2024 Officials fear that the government's plan to close loopholes in the non-dom tax regime might fail to raise any extra revenue at all, according to reports.
Non-dom policy change could lead to ‘exodus’ of wealthy investors, study finds September 4, 2024 Planned changes to the non-dom tax regime could trigger a “mass exodus” of wealthy investors from the UK, costing the taxpayer around £1bn by the end of this parliamentary term, a new report has warned. The study from Oxford Economics, which polled 72 non-doms and over 50 tax advisors, found nearly two thirds of people [...]
Non-doms head to Italy in search of sun, scenery, and lax taxes July 24, 2024 Changes to the tax status of non-domiciled residents of the UK – non-doms – has been the subject of much scrutiny recently. Both sides of the political divide have been pro tightening the rules, while analysts warned it will drive investment out of the UK. However, there has been a clear surge in non-doms looking [...]