Non-domiciles subject to new taxation rules
A series of changes to the way in which non-domiciles are taxed in the UK have been put forward by HM Treasury
and will now be subject to public consultation.
The government hopes that by implementing the tax changes
, the system will become fairer, while also encouraging more people to make investments in the UK.
David Gauke, exchequer secretary to the Treasury, said: "It is important that skilled individuals and investors are encouraged to come to the UK from abroad and we recognise the fact that non-domiciles can make a valuable contribution to the UK economy."
Another proposed alteration is that the tax charge for some long-term resident non-domiciles should be increased to £50,000.
Meanwhile, HM Revenue and Customs has warned people of a phishing email that is currently in circulation, which encourages them to submit their credit and debit card details on an external website.
- Money and Tax News from Lawpack: tax-savings and personal finance advice.
Published on: June 20, 2011
Did you like this article? Share it!