Proposed reforms to the taxation of non-doms announced by Treasury

Summary of Consultation Paper issued 30 September 2015  Government’s stated policy aims:- Persons who are UK resident in 15 out of the last 20 tax years will become “deemed domiciled”. They will pay tax on their worldwide personal income and gains, but foreign income and gains sheltered within an offshore trust will escape taxation. Persons…

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Mark Davies comments in The Times re non-doms and the July Budget 2015

How the non-doms keep their cash safe Michael Savage and Francis Elliott | The Times Published at 12:01AM, July 10 2015 Wealthy non-doms will successfully move their money or relocate overseas to avoid paying hundreds of millions of pounds under new tax laws, according to a Treasury analysis. The figures indicate that non-doms will shift…

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UK Summer Budget 2015 – Essential Tax Update – 8th July 2015

Today George Osborne unveiled his 7th and first solely Conservative Budget since 1997. It was widely anticipated before the speech that Mr Osborne would target tax avoidance and, as expected, the Budget contained details of a £5 billion crackdown on what Mr Osborne termed as tax imbalances, avoidance and aggressive tax planning.  The Budget also included…

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