10 implications of the UK General Election result for non-doms
13 May 15
The Conservative Party’s surprise majority victory in the UK General Election will allow the new government to press ahead with its promise to make greater efforts to counter tax avoidance and evasion. Here are 10 points that highlight what this means for those claiming non-domicile tax status.
7. HMRC consultation over
HMRC has consulted on extending the RBC to elections that have to last 3 years, so it won’t be possible to elect in and out on an annual basis. This will be expensive as previously a non-dom could orchestrate a taxable event in one year, so pay £50k. If these policies go through, it could be as much as 3 lots of £90k so £270k – a big jump from £50k.
Tags: Non Doms | Tax Avoidance
