Super-Rich 'Will Simply Shrug Off the New Fees' ; Non-Domiciled

Summary

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Plans announced in the report to raise funds by levying a fee on people who declare themselves non-domiciled in the UK will lead to the vast majority of small businesses coming back into the tax fold, according to experts.

But wealthy foreign businessmen like Chelsea owner Roman Abramovich and millionaire foreign premiership stars will just shrug off the fee, they added. The Chancellor, in a move that led critics to accuse him of copying the Conservatives, announced a flatrate charge of pounds 30,000 for UK residents registered as non- domiciled for tax purposes.

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Super-Rich 'Will Simply Shrug Off the New Fees' ; Non-Domiciled

People who are nondomiciled or not a resident of the UK can currently use the "remittance" basis of taxation, meaning income and capital gains arising overseas are only taxed here when the wealt...

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