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We're going to abolish nondomicile status for the richest people.
One category of foreign dividends to which this bill would apply are those dividends that are paid by a foreign corporation that is "exempt from tax under the taxation laws of any foreign country to which (but for such exemption) it would otherwise be subject to tax (except for exemption on the basis of nonresidence, nondomicile, or similar criteria).
This has been exacerbated by the abrupt changes to capital gains tax and the poorly handled reforms of nondomicile taxation - personal issues rather than business tax but ones that heavily influence the general business climate.
A new survey has found 42 per cent of "high net worth individuals" considered nondomicile are now preparing to leave due to changes to the tax regime set to come into effect on April 6.
When a nondomicile has been in the UK for 10 years, the charge rises again to a sum not yet disclosed.
It would be interesting to have a list of all the tax dodgers - big companies, celebrities, MPs, nondomiciles, bankers, etc - so that genuine taxpayers can choose to boycott the products or not vote for these people who are deliberately making a fool out of the ordinary man on the street, the very folk that put them in their exalted financial position in the first place.
As you can imagine, we get enquiries on a host of issues - with the current hot topic being how the proposed changes to the taxation of nondomiciles will affect their clients.
Bannatyne, a school dropout who began his business career with a second-hand ice cream van, said: "It's ridiculous when cleaners pay more than multi-millionaire nondomiciles.
The Government have also announced a pounds 30,000- a-year charge on nondomiciles who have lived in the UK for seven of the previous 10 years.
Add to this a crude and poorly thought through attempt to pass off an increase in capital gains tax as "simplification" plus knee-jerk reactions to the Tory proposals on nondomiciles and inheritance tax and it is difficult to characterise the fiscal element of this PBR with anything other than undue haste and not enough consideration.